I think resource values will drop proportionately if gold price continues to falter.
Look at MGV.
The board renumeration bill alone was 2 million last year.
I can't see how an explorer like MGV is going to attract fresh capital in an environment where drilling ceases due to liquidity constraints.
Liquidity dries up = SP drops
SP drops = opportunistic takeover
At current cash burn rates MGV has roughly 3 quarters of cash left in their coffers.
Ann: Gascoyne Achieves FY2022 Production Guidance, page-15
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Last
$1.46 |
Change
0.160(12.4%) |
Mkt cap ! $1.610B | |||
| Open | High | Low | Value | Volume |
| $1.32 | $1.46 | $1.31 | $59.53M | 41.22M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 900 | $1.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.46 | 72681 | 4 |
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| SPR (ASX) Chart |