Great Bear Resources Ltd. GTBAF

New GBR analysis excerpt ...

[KozmoT]

GREAT BEAR RESOURCES

(TSXV-GBR)   C$14.05

RATING: BUY

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TARGET: C$28.75

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Drill Results Along LP Fault Confirm our Maiden Resource Expectations

EVENT: Great Bear announced additional results from its ongoing C$25 million fully funded 2021 exploration program at its Dixie Project in the Red Lake district of Ontario.

IMPACT: Positive. We believe today’s and upcoming results from the LP Fault will continue to support our thesis of Great Bear delivering a maiden resource of ~7.5Moz across a 4 km long strike length at the LP Fault.

HIGHLIGHTS:

• LP Fault: Great Bear delivered results from 7 additional drill holes completed along a 200m strike length along the LP Fault. The near surface holes were completed on tight 25m centres between bedrock surface and ~70 vertical metre depth.

• Assays: Near surface high-grade assays include:

  • 10.01g/t Au over 34.85m from 50.50 to 85.35m;
  • 15.25g/t Au over 10.40m from 63.00 to 73.40m; and
  • 16.69g/t Au over 8.60m from bedrock surface (30.40 to 39.00 metres).
• Take-away: Drilling continues to confirm lateral and vertical continuity of mineralization while also enhancing the geologic model and predictability of mineralization at the LP Fault target on the Dixie property. Today’s results demonstrate continuity of near surface high-grade mineralization over 200m of strike length on 7 drill sections at the LP Fault zone. We believe today’s and upcoming results from the LP Fault will continue to support our thesis of Great Bear delivering a maiden resource of ~7.5Moz across a 4km long strike length at the LP Fault.
• Valuation: We currently see the GBR trading at a 0.4x NAVPS multiple and a discount to its peers. Given the potential size, scale, location, and opportunity for M&A, we continue to see Great Bear as a top-tier Canadian based exploration name for investors who should be opportunistic at its current valuation.

[CdnBadger]

I think that is .4 times the projected maiden resource of 4km and/or 12M ounces. Multiple by 3 or 4 for the full project? That makes sense to me. $35-40 SP on maiden. $100 plus on buyout. It goes into production we're looking at $100 plus as well. Do I have that right? 

[CdnBadger]

Should br or not and/or.