With a JORC compliant resource of 1.6M oz, BDG must be among the cheapest Gold Exploration/development companies out there:
"The Salave project has a compliant independent JORC resource of 1.6 Moz grading 4.19 g/t Au at a 2.0 g/t Au cut-off grade."
When looking at the market cap of 8 Mio AUD, that is some 5 AUD/ oz for a high grade resource. At current gold prices, the net present value of the project would have to be north of 700 m USD as the Preliminary Economic Assessment used a Gold price of 1.250 USD/oz and the project delivered robust, viable numbers.
Corona restrictions should have eased in the third quarter so that the team can now work on finalizing the final mine design plan, rehabilitation plan and the Environmental Impact Assessment. In the AGM it was mentioned that they are planning on submitting these documents by late October this year.
