Yes, in the current gold climate, there's some incredibly cheap ounces going begging here. Looking at some of the recent runners, you wouldn't think the market could be quite so out of whack.
The Mineral Resource Estimate for the CGP released in July (Bruno‐Lewis Mineral Resource Update, 9th July 2019) had it at 18.2 million tonnes of gold mineralisation at a grade of 1.44g/t Au for 841,000 ounces, based on an AUD $2,000/oz assumption.
An earlier estimate based on AUD $2,200/oz was 22.5 million tonnes at a grade of 1.46 g/t for 1.05 million ounces!
They're all in the money at today's spot price,
With the Company's market cap at around $38m, that values those million ounces at only about $38/ounce.
And that's just the calculated stuff. There's a huge pipeline of further prospective targets (some at an advanced stage) on our ground to boot.
Yes, in the current gold climate, there's some incredibly cheap...
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