1 month Snowfield deal: 2.45 B$ value added by PoG riseOn morning of Dec. 04, 2020 the Snowfield deal was announced by news releases from Seabridge and Pretium:
~ 26 million ounces measured and indicated gold resources are contained in the Snowfield deposit and had changed hands from Pretium to Seabridge for very roughly 3 USD per ounce. The London fixing Price of Gold was on this morning:
2020-12-04 = 1,839.30 USD/oz
London spot gold is actually traded at time of writing this
2021-01-04 = 1,932.20 USD/oz
Price Difference to time of announcement is 1,932.20 minus 1,839.30 = 92.90 USD per ounce.
92.90 USD times said 26 million measured & indicated gold resources = 2,451.5 million USD or 2.4515 billion USD.
That is a real nice deal with so much value within one month.... isn`t it ?!!
2.4515 Billion USD value added within one month. My goodness...
To make it not too much shameful for Pretium I did not count here the further values added by price rises for the big amounts of Copper and Silver in Snowfield. Nothing to say about further more inferred resources of Snowfield... ;-)