249mln shares, 46mln oppies (20c). $22mln cash. Mali gold project: 3.14mln Oz at grade 2.4g/t.
PVM: 275mln shares (16mln oppies/warrants). $30mln cash. PVM is raising C$100mln at 84c CAD or 119mln shares in Canada.
Ghana Project: 4.5mln Oz of gold at 2.2g/t. PFS: 220k OZ/p.a at cash cost of $630USD/OZ. Capex $297mln, NPV = $600mln.
PIR's MC is about $460mln and PVM is about $233mln (before the $100mln capital raising). That massive $100mln capital injection will significant derisk its Ghana project which provide a clear path toward development and gold production.
in my opinion, PVM is a more attractive punt than PIR.
PVM Price at posting:
85.0¢ Sentiment: Hold Disclosure: Held
