Excellent article by Taylor Dart once againPosted over on ceo.ca. Here is the conclusion of his analysis.
"Putting it all together, this is a company capable of growing from ~30,000 ounces in 2023 (residual leaching + ramp up at Granite Creek Underground) to 400,000+ ounces later this decade, with an upper level of 500,000 ounces with a Hilltop/Blackjack expansion (240,000+ GEOs) + Hub/Spoke gold model (240,000+ ounces) + oxides. A company with that profile in Nevada easily trades above a US$3.0 billion market cap, which is more than triple the current fully diluted market cap (~$840 million) and that assumes Granite Creek Open Pit nor Mineral Point ever go into production, with both being 180,000 ounce per annum operations as well (assumption of 50,000 tons per day at Mineral Point). Given the medium-term upside (2-year target price of US$4.70) and long-term upside to north of US$8.00 (assuming ~375 million fully diluted shares long-term) if i-80 executes successfully, i-80 continues to be my favorite idea among all small caps and mid caps."
"Regarding catalysts, I would expect the share price performance to improve with a steady stream of news from April through to year-end as drill results start coming in and we see updated and maiden resource estimates / studies completed, such as Ruby Deeps (resource upgrade), Granite Creek (reserves and Feasibility Study), South Pacific Zone (resource), Blackjack (resource), and additional exploration results from Hilltop, Granite Creek Underground, McCoy Cove new anomalies being tested in the Hilltop Corridor. Finally, investors can look forward to drill results from the FAD ground to the south. The wild card though to this investment thesis is a takeover, and while I'm not sure how many gold producers are interested given that this is evolving into a polymetallic opportunity blended with a gold opportunity which some gold miners may pass on if they want to stay gold focused, if the results get good enough or we see new polymetallic discoveries made (multiple untested anomalies on property) or they hit a high-grade porphyry, I would not be surprised to see larger base metal players like Teck Resources (TECK) start sniffing around."