Kevin also mentioned the comparison between Marithon and Anaconda...as did DDD some time ago. What is most insteresting here is MOZ is about 1 year ahead of us and currently has 70 million more shares outstanding as of today.
MOZ shareprise is around $3.20 today - ANX $0.81
MOZ (from their website):
Largest Undeveloped Gold Resource in Atlantic Canada
- 3.14 Moz. M&I (56.7 Mt at 1.72 g/t Au)
- 1.00 Moz. Inferred (18.2 Mt at 1.70g/t)
Very True as of today...ANX will probably surpass as we explore/drill towards Dolliver Mountain (Pit #3) and we still do NOT know how deep this resource goes...could be a km or 2 deep making it a multi-generational deposit as Kevin has noted.
MOZ - March 2021 Feasibility Study with Low Initial Capital Cost and High Rate of Return
- After-tax 31.5% IRR & C$600 NPV5% at US $1500 Gold, C$305M Capex
- 13 Year Mine Life; 2.05Moz Mineral Reserve; 173k oz/a Years 1 to 9
Very similar to ANX...but has shorter Mine life...higher Capex...higher annual ounces per year...in general, very similar economics
MOZ - Committed to Project Development
- Environmental Assessment underway
- Contemplates completion of project Enviornmental Assessment process in the second half of 2021
- Breaking ground for construction in early 2022
- Production start in second half of 2023
ANX is about a year behind MOZ
So when ANX goes to do a financing for construction, if they issue 70 million ANX shares to raise capital to build the Goldboro mine (70 million shares at 1.50 a share IMHO $105 mill) debt finance the rest), they will have the same number of shares as MOZ 243 million outstanding as of today and MOZ has not done their financing yet to build their mine...so more share dilution coming their way I suspect.
So long story short when comparing MOZ to ANX today...ANX can easily get to $3.00/share in a year.
A high-grade discovery at Tilt Cove or Point Rousse with ongoing drilling and exploration can change the game for ANX and put ANX in a higher league than MOZ. Folks are also failing to consider the 10+years of experience that ANX has in running a mine so setting up another open pit mine in Goldboro should be more straight forward for ANX than the inexperienced MOZ.
Onward and upward...BLOW IT UP!