Recent Gold M&A in Australia - Big Premiums on Acquisitions, page-7

How much do reckon NCM would pay, after the next Calibre/Magnum & Minyari Dome upgrade in the next 1-9 months, probably takes AZY'S 100% attributable resource to 5Moz eq?

I'd say at least double Shaw & Partners' 8c valuation. NCM won't throw an offer based on the current share price of the time, they'll base it on the multiple millions of ounces of gold

But AZY management are now saying we're an emerging tier-1 business, so maybe boots on ground are seeing how much gold is coming up from the ground, and has all the signs of a major mine that no doubt they would've seen in their decades of experience in discovering and developing major mines in Australia. The definition of tier-1 is open to interpretation, but you could say at least 300-400oz gold eq per annum for 10 years