Hi Mitis,
As Pickle has eluded to and also highlighted in $tockhead release below, price is low due to an old deal that was held together it seems.
then also.
So purchase price back then was more like $10/oz when company EV/oz where also lower.https://unauthorised investment advice/resources/heres-why-the-twin-hills-buy-is-a-key-step-in-gbms-grand-gold-plan/
" some fancy negotiating that kept the price at roughly the same level that the company had reached under the previous deal in 2017 when gold prices were lower."
The deal in 2017 was when the gold price was ~A$1650/oz vs A$2500/oz today. Initial resources oz were only 398,000 ozhttps://www.asx.com.au/asxpdf/20171222/pdf/43qdfljwtbb220.pdf
So GBM wins on both sides, lower purchase price per oz, and generally a higher market value for oz's on an EV basis.
This rerating is what GBM holders are also looking forward to.
2022 looks to be an exciting year!
Ann: Completion of Twin Hills Gold Project Acquisition, page-18
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