Dodge12 here is one of a few examples.
As the gold price lifted from $US1080/Oz towards $1200/Oz in Q1 2020, Spectrum Gold's Penny West deposit in WA was taken over for $208million by Ramelius Resources in February 2020.
It wasn't in production at the time of the takeover. The gold price today is $US1850/Oz and heading north as inflation picks up around the world.
Penny West Gold Project - Spectrum Metals
It is coming into production later this year.
Ramelius to bring Penny into production in 2021 - Australian Mining
Even though Penny West North, the majority of the value of the asset is under 200metres of rock, it was still worth $208million when the gold price was only $1200/Oz.
As Siren Gold continues to drill and confirm that its high-grade gold shoots and lodes from the surface, along strike, and at depth, we'll see the share price lift considerably.
That is why rising gold prices are beneficial to explorers and developers like Siren Gold, it is much easier for a mid-cap or large-cap to issue less number of shares, if their own share price has lifted by 30-75% because of a rising gold price, like we are seeing now, in order to purchase a high-grade gold asset.
I'm not saying Siren's Reefton Goldfield assets are for sale, I'm just saying a rising gold price adds significant value to a high-grade gold deposit where the gold is at or near-surface.
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Dodge12 here is one of a few examples.As the gold price lifted...
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