This is why the GOR exploration business model is flawed.
It's now cheaper to buy ounces than find them!!!
Below are estimated costs per m drilled for DD, RC and AC.
$145 per ounce spent to find ounces, it is also important to note that some of that cash was spent on resource to reserve conversion drilling.
Some exploration plays such as Warriedar Resources and ROX Resources have an EV to resource valuation below $20 per ounce.
What's the true cost of this business model if we include into our equation the 95 person head count employed by the non-mining, virtual Gruyere royalty holding company GOR?
This is why I believe a GOR takeover is 100% inevitable.
This is why the GOR exploration business model is flawed.It's...
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$1.71 |
Change
-0.030(1.72%) |
Mkt cap ! $1.852B | |||
| Open | High | Low | Value | Volume |
| $1.75 | $1.75 | $1.70 | $7.889M | 4.597M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20249 | $1.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.73 | 17087 | 3 |
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| Last trade - 16.10pm 27/08/2024 (20 minute delay) ? |
| GOR (ASX) Chart |