re: Ann: Acquisition of 3Moz Gold Project, Mo... Hi Wassie I...

re: Ann: Acquisition of 3Moz Gold Project, Mo... Hi Wassie

I agree what a cracka project and picked up for only $4.54/oz thats insanely cheap. having a look at that EV peer comp on the presso, its closest comparison is AMX.

Just working some back of envelope numbers AMX is worth $133m dispite its recent problems take out the $42m in cash leaves $91m EV divided by 3.1moz = $29.35/ounce.

Now TNV's project has 3moz ounces at higher grade in Mozambique arguably a better investment destination, so you can easliy use AMX's valuation metrics as a base case.

therefore TNV having 3moz is worth $88m, post the acquisition there will be about 60m shares on issue which equates to rougly $1.46per share.

Lets then be conservative and build some risk into the Ev/resource price of 50% and use $14.67/oz still means a share price of $0.73 or 100% return from the current levels on conservative numbers

In summary I'm going to have to call my bank manager and ask for some more money so i can get some more.

PD

Do your own research this is my opinion only.