My 30c was calculated on 50/50 debt to equity for the CR.
If they fund the entire capex by dilution, then target is still ~20c.
If they raise the entire amount by debt (ie no dilution), then the target goes to ~60c.
Calculated using current share price, and current gold price, which modifies the reported NPV according to the sensitivity analysis in their most recent revised DFS.
News: Big River Gold pursuit funding for Borborema Project after solid June quarter, page-216
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