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) :Disclaimer: I have not factored in the raising AISC along with raising gold price so real value will be less.
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
* 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.
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