TSO fair value? Short term target 30c, medium term 60c!, page-90

Mate, you missed the other half of the sentence "unless it truly has a world-class asset and multi-million-ouncepotential at above 1.5 grams per tonne gold."

Anyway, I dont really like this author Taylor Dart.
Disclaimer: "Taylor Dart is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only."
Why? Because Im not even sure that he fully understood what he was talking about. Part of the article he was emphasized on cost "one significant determinant for the price paid per ounce is all-in margins, as high all-in sustaining cost producers have been bought out for depressed valuations." Then he ended the article with emphasizing on grade of above 1.5g/t? What does he mean? 1.5g/t for what? Underground or open pit? The average grade of OP mines is 1-3g/t while for UG mines it is 4-6g/t, totally different! And seriously he thinks grade is everything? How about Fort Knox, Enerst Henry, Cardia Valley, etc?
Also he mentioned the average EV/oz for a Tier 1 explorer in Q2 2020 is $112. But he also said in the end that he would not want to pay more than $85/oz even for a tier 1 jurisdiction explorer?!? This article is just his personal opinion as put in the disclaimer.

Anyway he did pointed out the importance of a tier 1 mining jurisdiction: "While gold producers continue to be acquired at extremely low valuations relative to the gold price, there is one group in the sector that is getting top dollar in acquisitions: those in Tier 1 jurisdiction."