PDG ouncesAre actually 3.8 Moz not 3.5 Moz but it only changes the numbers slightly. They're worth $43 per oz instead of $47 / oz meaning a 20% discount for GBB's ounces is $35 / oz. $35 / oz X 2.5 Moz = $88 M market cap or 46 cents per share. As I've stated before though PDG should be trading for $55 / oz based on the Resource they just put out given TRR's valuation being double with only 400,000 more ounces. The fact that TRR is releasing an updated 43-101 in the 6.5 Moz range can explain some of the differences in valuation but regardless PDG @ less than a $250 M market cap is quite undervalued given how advanced their Magino project is. Based on a more fair valuation of PDG they should be trading @
.90 cents or $230 million market cap. That would be just over $50 / oz which would mean $40 / oz for GBB or a 50 cent + share price after the 43-101.