Mixing it up with the big boys, page-60

AIM-listed Greatland Gold, is currently valued at about $1 billion AUD. Similar to AZY, NCM will gain 70% of 12 blocks within its 450sq Km E45/4701 through completing $USD65 of exploration. NCM retains the option to buy an additional 5% after completion of the final fourth stage of the farmin.
NCM ¬40% advanced in the farmin process.
Other than Havieron & Paterson acreage, Greatland Gold's other projects are fairly mediocre early stage projects. No production or cashflow imminent. So effectively that 1 billion aud is the valuation for 30% of 1 partially drilled discovery...albeit an impressive one
This gives an idea of what value the market could value AZY at with just one Havieron scale discovery...within its 5000km2 by any of its 3 farmin partners. Let alone a Havieron-like find within our 100% tenements.
And maybe we are already a long way towards that goal with the Calibre/Magnum discovery.....
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