The Groundrush pit is likely high strip ratio, so high capital but marginal return. It could be competing for the same material as the underground. Continuing the pit mining would delay or interfere with setting up a sustainable underground. For a 3D view or the deposit do a search for inventum3d and Groundrush. From the wording the scoping study appears to tell them pit makes the threshold as a resource but not for mining.
What could be contributing to the EV discount? Could it be a is a lack of progress on the project, same board for the last ~10 years most affiliated with the major shareholder, a risk the financing of future development is externally funded by the major shareholder, a JV partner that forgets to mention the project and any announcements, or the location doesn't help? Note the 5% royalty in the cost assumptions ~$140/oz. Resources are getting smaller in spite of the gold price being much higher than when they were last updated.
TAM Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
