Conceptual upside +29 cents per share. Current JORC is 1.2M ounces of gold (less than 5% of target zones) within a strike line that has multi-million ounce potential. I assume that recent (Canadian funding) cash injection should see expedited drilling campaign push JORC to +2.0M ounces in next 3-6 months.
Assume that +2.0M ounces x $200 per ounce Enterprise Valuation = +$400M.
That equates to a share price of +29 cents (based on currently issued 1.4B shares).
Our golden puppy is priced at 4.2 cents, so near term upside is +6.9x before we account for increasing gold price and peer group EV per ounce (which currently exceeds $250 per ounce) of JORC resources. Good luck to all longs.
Conceptual upside +29 cents per share
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Last
3.1¢ |
Change
-0.001(3.13%) |
Mkt cap ! $110.4M | |||
| Open | High | Low | Value | Volume |
| 3.2¢ | 3.2¢ | 3.1¢ | $316.2K | 10.11M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 2518676 | 3.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.1¢ | 374468 | 3 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| AUC (ASX) Chart |