Hmm, looks like our tier one asset is up for sale?Getchell...

Hmm, looks like our tier one asset is up for sale?

Getchell Gold

Time to move from the theoretical to the practical. One of my favorite gold companies right now is Getchell Gold (CSE:GTCH, OTCQB:GGLDF). The Nevada-based junior’s flagship gold property is Fondaway Canyon, located a short drive from Reno, with a number of prominent mines and deposits to the north.

Getchell carried out three drill programs, in 2020, 2021 and 2022. The aim was to significantly upgrade the 2017 resource estimate into a new resource, that combined the drill results from all three drill programs.

The new resource estimate, released in November, nearly doubled the previous one, of 1.1 million ounces. It is 2 million ounces, including 550,000 ounces in the indicated category grading 1.56 grams per tonne, and 1.5Moz inferred, grading 1.23 g/t. There are nine holes that haven’t been included in the resource estimate because they missed the cut-off date, and Getchell plans to do a lot more drilling on it’s wide open deposit in 2023.

GTCH’s resource estimate is 2,058,900 ozs gold. Cipher’s’s average price paid for an oz of gold in the ground, between the years 1990-2013, was US$63.00.

$63.00 x 2,058,900 = US$129m / 122 osfd = US$1.06 per share.

Cipher’s brilliant report is out-dated in two areas. First resource nationalism is now much much worse then in the years, 1990-2013, covered in their report. Imo, an oz of gold in Nevada is worth more than say in Burkino Faso. Second, again over the years this report was concerned about, gold’s average price was not, for the most part, anywhere near what it’s been trading for the past 10 years.

https://aheadoftheherd.com/getchell-gold-a-case-study-of-gold-in-the-ground-richard-mills/
So if our Ecuador asset is sold, at what price Au ounce in the ground?
$63.00
$35.00

Raider