CNB Summary and Why Its So Undervalued, page-3014

It's looking increasingly likely the US $900b stimulus package will pass.

$900b represents an additional 6% of the current $1.5t USD in circulation.

What does this mean for us?

Excluding all current exploration lets take a quick look at our exposure to real gold based on announcement Aug 3 2020: Sale of Tick Hill Tailings (an assumption has been made we will mine the open pit) :

			Open Pit mine		Tailings sale
1			Ounces	AISC	Ounces	NSR royalty
2			12,500	$1,190	17,800	5%
3	Spot	Estimated spot	Total	Value to shareholders*	Total	Value to shareholders*	Total value	Total SH Value
4	Gold spot @ PFS	$2,300.00	$13,875,000.00	$0.109
5	Gold spot today	$2,471.00	$16,012,500.00	$0.126	$2,199,190.00	$0.017	$18,211,690.00	$0.143
6	Add 2%	$2,520.42	$16,630,250.00	$0.131	$2,243,173.80	$0.018	$18,873,423.80	$0.149
7	Add 4%	$2,569.84	$17,248,000.00	$0.136	$2,287,157.60	$0.018	$19,535,157.60	$0.154
8	Add 6%	$2,619.26	$17,865,750.00	$0.141	$2,331,141.40	$0.018	$20,196,891.40	$0.159
9	Add 10%	$2,718.10	$19,101,250.00	$0.150	$2,419,109.00	$0.019	$21,520,359.00	$0.169
10	Add 12%	$2,767.52	$19,719,000.00	$0.155	$2,463,092.80	$0.019	$22,182,092.80	$0.175

Disclaimer: I have not factored in the raising AISC along with raising gold price so real value will be less.
* Fully diluted at 127m shares

So as of today Tick Hill & tailings sale alone is worth 14.3c

At October 29th we had $8.6m cash with $1.25 due any day.

So MC of $35.3m - ($8.6+$1.25) = $25.5m
$25.5m - value of Tick hill & tailings ($18.9m) = $6.6m
$6.6m / 127m fully diluted shares = a 5c punt on our exploration per share today.

If gold goes up 6% we're paying 4c per share for the exploration punt
If gold goes up 12% we're paying 2.5c per share for the exploration punt

Keep selling me those cheap shares, I like CNB much more than I like playing the lottery.

Please note these are all back of an envelope calculations with numerous assumptions made. As always DYOR and GLTA.