Ann: Excellent Results from final RC Holes at Clarks Gully, page-80

I posted below - potential valuation of LRV in the pricing thread.

Apologise for reposting but could be useful and I expect an increase in MRE when the DFS comes out.


With increased pricing of Sb and Gold, LRV inground value of gold + antimony + assets value in excess of A$10bn.

With USD40,000 (A$62,800) for antimony and gold at USD2,664 (A$4,200).

1. Antimony in ground value is A$5.8bn ( 93,000 mt x A$62,800)
2. Gold in ground value is A$A$4.4bn (1,036,000 ounces x A$4,200)
3. Asset value is at least A$200m

TOTAL inground resource and asset value is A$10.4bn

All this for,

1. Market cap A$160m (SOI 374m x 43c)
2. EV of A$135m ( A$160m less at least $25m before tranche 2)

Northern start is buying DEG for A$4.8bn and DEG has a post tax NPV A$2.9bn at a WACC of 5%. DEG inground gold resource is 13m ounces x A4,200 = A$54bn. They got roughly 10% of their inground value in the N Star acquisition.

LRV NPV post tax A$383m at a WACC of 8% -

If we apply a similar logic, LRV should be at 10% of its inground value of A$10.4bn = at least A$1bn.

People are talking about "peanut value" and I think LRV is at that value right now!