TLG vs. ARTG Similarities:
Indicated AuEq ounces from MRE
Open Pit projects.
ARTG numbers:
Acquired Blackwater site in August 2020.
100% owned by ARTG
Insiders own 38% of the company
Feasibility Study:
Initial Capex: $750M (had $820M in secured funding available)
Proven Reserves: 7.8M ounces Au and 60.4M ounces Ag
Probable Reserves: 0.2M ounces Au and 1.7M ounces Ag
Project fully contracted and permitted while hitting projected deadlines.
Project 59% complete as of December 31, 2023 with first pour scheduled for H2 2024.
Expansion Study conducted for Phase 2 of mine to increase average annual production to 469,000 AuEq with a strip ratio of 2.01 for LOM at an After-Tax NPV (5%) of $3.25B CAD @ $1,800 USD Au and $23.00 USD Ag currently being considered which will rely on operating cash flows for funding and thus no intention to dilute shareholders via equity financing.
We'll see how well TLG does in comparison as its project moves forward.