RE:NFG Shallow Core Contained Gold...11 million ouncesSomeone might google for a FS of an open pit mine averaging 10 grams per ton , producing 300,000 ounces for 30 years at below peer AISC and no debt.....and tons of exploration upside below the pits and outside the pits, as these early shallow deposits are still open at strike and depth
I doubt that you will find one below $10 billion NPV 10.
In essence, whatever is found below these pits by the current exploration / drilling to 1000 m is rather interesting but not at all critical , as those ounces will have to wait a while for these bountiful open pit deposits to be depleted even at 500,000 ounces per year.
I am willing to bet that NFG internal estimates are not too far off those in the table that I posted this am.
The Gold concentration ratio is rock solid as are the grades.
They may already have modelled the optimized pits whose dimensions may be somewhat different than expressed in the 2024 TR but I doubt that such configurations would signifucantly alter economic ore volumes .
Following on from that, any potential suitor with competent geological advisors could do a more precise estimate than I have done plus fully knowing that the UG resources , given that deeper grades are several times that of Shallow grades, would be a nice but future source of mining subsequent to full depletion of topsides.
That PALI insiders have been loading up, might be a sign that one or more large hound dogs are on the scent..