ValuationValuation is insanely low compared to resource in the ground.
They may have 100,000 ounces of gold (or more) in a shallow discovery that can be mined from surface like a gravel pit and extracted with a fairly simple acid leach process. Gold is selling for $2200 and ounce so that is 242 million dollars of potential revenue and the cost to mine it is less than $1000 an ounce. The maximum cost would be 100 million.
Then there is the whole issue of whether there is a huge porphory copper resource in one or both of two spots on their land holding. Copper is increasing demand for the energy transition.
The total market cap of the company is $4.5 million canadian dollars. It seems kind of crazy to me.
The upcoming drill holes and a feasibility study to put some details behind a plan to move ahead with mining the shallow gold piece would unlock some of this value and narrow the extreme spread between the value of minerals in the ground and themarket cap of the company.