Well, the G1A comparison was not what I expected. Purely a lead mine with 17g/t silver. Silver price rise would add very little value to G1A but would reduce G1A's project silver resource grade from the current 210.8g/t. I did read many moons ago that they have gold/copper below the lead/silver but no jorc resource thus far. G1A is very lead price dependent. I can see why they are struggling. Looks as though they did not do a DFS but I may be wrong. Original lead grades from 2018 scoping study indicated 8.5% lead and 24g/t silver. The latest update dropped the lead grades by 15% and the silver grades by 30%.
So, on a resource only valuation, and not getting technical with the plant cost minus debt indicates that both BML & G1A have similar resource valuations, resource size but BML has double the silver grades but only half the lead grades. BML is open pit whereas G1A is u/g.
Charts, page-44
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14.0¢ |
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Mkt cap ! $32.67M | |||
| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
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| 14.5¢ | 74108 | 1 |
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