Nice to see the resource upgrade based on higher gold price.
At US$1250 the Project NPV is ~US$210M based on the scoping study numbers (assuming 8% discount rate). Add US$1M to the project NPV for every US$1 increase in the gold price (assuming no change in resource inventory).
So at US$1340 (today's gold price) ORR's 51% share (assuming no claw back) is worth ~US$160M.
ORR current EV is ~US$42M. Clearly it shouldn't be at full NPV given the stage of development but a quarter seems significantly undervalued.
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