OK ... switching to ASX listed gold stock(s) and assets in Australia ... WA goldfields in parrticular.
What did I write earlier ... TSX listed with an asset in the Maricunga Gold Belt, Chile where FLG is acquiring an"advanced exploration asset" ... we'll see PL's definition for that when ASX lifts the suspension ... mine is as stated earlier ... at least a maiden MRE if not more (but for sure pre PFS stage but maybe post the PEA stage - which would be nice as it would give some idea on scope/scale/economics).
Here is an example of an advanced stage exploration asset (multiple MRE's but still no Reserves or Measured ... only Indicated and Inferred) that has completed a Scoping study and in will complete a PFS by June' 25. It is fully funded thru to FID.
The graph is of Market Cap not stock price.
Jan'22 ... paying a multiple of AUD$211/oz M&I ... pre scoping study
stock spends about 2 years in the doldrums (and mulitple drops to AUD$80/oz) before kicking into gear and begins what looks like classic "alpha generation" via the drill but with a year of highly successful drilling.
Nov'24 ... most recent MRE the stock has returned to AUD$200+/oz
I do own the stock (finally) ... I can't see that mulitple (or anything like it) being applied to FLG ... in the short term (say next 6-12 months) I'd be happy with AUD$20/oz and grow from there (so if 1Moz M&I then +$20M in Mcap) But in-situ oz Au in an area where there are multiple mines is valuable.
I'll take the direction of Rosario here (and Tama Atacama) ... some form of option agreement, with the ability to pay some amount in cash and the agreement would have minimum spends and be back end loaded. This is what we presently:
Depending on what we get (beyond Maiden MRE or more) the work would be focused on "value creating activities" - which I'm guessing would be either in-fill to convert Indicated to Measured and mostly like a PEA or Scoping Study. I'm sure PL could get that done because Gold has real value attached to it. That should fine its way into the stock price. Which makes raising capital easier and less dilutive (since our price is now higher). FLG trades at what looks like a "cum raise" price.
Hurry up ASX.
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