MEK chart, page-169

$2600 per ounce x 2 million ounces = $5.2 billion in shiny stuff.
$1400-$1800 cost per ounce for mining ( a lot of the new resource will be open pit)
900,000 recoverable ounces = EBIDTA of $720 Million to $1,080 Million
Plus value for Cascade and Circle Valley (REE + gold potential)
= Market cap of a lot more than current poultry $70 million.
This has 5 to 10 bags in it for me, should be at least $350 million mc if we have 2 million ounces of high grade shallow gold.

DYOR I made half these numbers up!

Previous Scoping study numbers below FYI
Pre-tax undiscounted free cash flow of $182M (Post-tax $131M) at
$2,400/oz gold price (~$100/oz below current spot price)
▪ The Project delivers an NPV5% of $124M and IRR of 46%
▪ EBITDA of $457M
▪ Average gold production of ~50,000oz per annum
▪ Total mine production of 4.9Mt @ 2.8g/t Au for 443,000oz
▪ 422,000oz of gold sold at AISC of $1,655/oz
▪ 8 year life of mine
▪ Processing operations run for 9 years to fully deplete stockpiles
▪ Pre-production capital requirement of $52M and payback period of 23
Months
▪ 72% of gold production is sourced from Measured and Indicated
Resources (Inferred 28%)