Quick comparison to KZR deal: KZR just got a deal (depending how...

Quick comparison to KZR deal:

KZR just got a deal (depending how you discount the structure of the second payment) of ~$28m (8% discount on the 18 month payment). So on their 1.4Moz it works out to around $20/oz.

Ashburton is a refractory deposit which means despite good grades the met is hard work and recoveries are meh and they would likely have to sell concentrate rather than Dore.

You can tell from the DEG announcement that they want it because they think they can process it at Hemi. That's a 580km trucking round trip of 12-15/t of dirt per ounce of gold! That plus already processing it through POX being expensive. Hardly a steal.

If you value MM8 at $20 per resource oz (of gold alone) that gives a valuation of $26m. Almost 50% higher from last close.

I mean beyond that I think this has a lot less issues and can justify a standalone operation but it just shows what I consider to be the value in this stock