Kaminak Gold's Coffee Project in the Yukon is an intrusive-related gold project that was bought out by Gold Corp for CAD $520M on 12 May 2016.
https://www.prnewswire.com/news-rel...on-of-kaminak-gold-corporation-579169231.html
At the time the project was at PEA stage. Had not been financed. Was not in construction.
Buyout value was CAD $118 per ounce. This was 7.3% of the prevailing gold price at the time.
In 2 years I expect we will be in a gold bull market. Let's assume gold price is USD $1800. If we use same value rule of thumb at 7.3% of prevailing gold price then that is USD $131 / oz.
For a 5 moz resource buyout value would be AUD $833M
For a 7.5 moz resource buyout value would be AUD $1.2B
Estelle is a big district with lots of potential that could push it well beyond 20 Moz, so there could be intense takeover interest from Tier 1 gold companies.
Would put a buyout value at $0.53 to $0.79.
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Is the above realistic? Maybe. Maybe not.
When St Barbara bought out Atlantic Gold it was at a 39% premium to the prevailing share price.
https://www.reuters.com/article/us-...nadas-atlantic-gold-for-536-mln-idUSKCN1SK2RU
30% to 40% is the usual window for a buyout premium. It will ultimately depend on what market cap we get to with a Feasibility Study.
Sabina Gold and Silver Corp in Canada are fully-permitted and have a new DFS underway. They are currently trading at CAD $82.56 ( AUD $92.78 ) on a 100%-basis. With feasibility study we would be at 85% earn-in, so need to adjust for this works out at AUD $78.86 per ounce (without a buyout premium).
From this I can work out potential market cap but I then need to add 30% for a buyout premium. Gives me a range of $0.33 to $0.49.
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