As pointed out by the investor presentation: "32Moz Au (P50 mid case) of undiscovered gold in the Northern Bendigo Zone (Vic Govt 'Gold Undercover' estimate)." - 59456090.
As described in the previous posts, "the ground position that falcon has is one of the largest ground positions in Victoria" -Dr Mark Bennett, Nov 4 2021 (predominantly in the zone that holds the 32Moz).
Even if Falcon Metals takes a slither of a slice of that $85.9 billion dollar pie, I suspect the share price to sky rocket.
Falcon believes they are targeting a $1billion NPV prospect. If there is only ~$86b AUD of gold there, then they are looking at $1/86*100 = 1.16% of the total potential yield for the Murray basin undercover area. The good news is, their permit areas likely cover much much more than 1.16% of the prospective resources of the area. Meaning, that $1billion NPV, is probably conservative.
FAL Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
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