Yesterday there was an announcement that DUNDD0008 had extended the M3 zone from 40 to 92m.
This represents a 130% increase.
Having reviewed Dart's previously published JORC resources, I was unable to determine what the M3 resource component was of total resources. Does anybody out there know what the M3 component measures at?
With the current deep drilling program aimed to finish around March, there should be a better indication of the potential mine's life.
Dart is constantly comparing itself to the Red Mountain (Urad & Henderson), Colorado mine sites. Mining began in 1918 (Urad) and in 1976 for the deeper deposit (Henderson).
The previously published NPV of a 14 year mine at Unicorn, comes in at $255 million. With estimates of a further $50 to $70 milion increase for 6 years. What would it be worth if the mine life was 40+ years?
To put into a context at the current share price, the company's market capitalisation is slightly under $20 million, about 1/13th of the NPV of a 14 year mine.
In addition Dart also has the Morgan project about 7km away from Unicorn. This project has been relatively under explored with the primary focus being at Unicorn. However, with Mo, Ag & Au also being identified at this site, the geographical proximity seems to be screaming out major economies of scale if this project ever gets going.
As for Mountain View, Dart has recently announced it's intention to either sell the site or adopt a joint venture partner. Are there any gold bugs out there who would hazzard a guess as to what this project is potentially worth?
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