Yes, important to keep perspective.
Sandstorm's Hod Maden 9.1Mt @ 12g/T AuEq = US$1.1Bln after-tax NPV and 50% IRR. Sandstorm paid US$175M for 30% of Hod Maden. On 100% basis that is US$580M or A$790M.
I currently estimate 4-5Mt @ 14.6g/t AuEq of mineable resource with upside to 8Mt. This is at Rupice, alone. ADT have several prospective regional targets.
At A$0.485/sh, ADT fully diluted enterprise value is still under US$50M.
While the resource may not attract a megacap major, it is right-sized for SFR, IGO, LUN.to and DPM.to and will be a cash cow for these mid-tiers.
If ADT can define 6-8Mt at Rupice, it will have critical mass for a takeover as suitors like at least 10 yrs of mine life with potential for more. In a takeover, I think shareholders can realistically get $3-$5/sh.
Yes, important to keep perspective. Sandstorm's Hod Maden 9.1Mt...
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$3.48 |
Change
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Mkt cap ! $974.1M | |||
| Open | High | Low | Value | Volume |
| $3.49 | $3.53 | $3.47 | $1.583M | 453.4K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2000 | $3.47 |
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| Price($) | Vol. | No. |
|---|---|---|
| $3.51 | 413 | 1 |
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