UpdateThe data in the latest press release shows that the most recent drill results again exceeded the previous averages for Goldstorm. As a result my estimates increased slightly. I dropped the short hole 89, which was lost after only 38 meters, from the data, even though the grade was > 1.3g/t.
For the 300H I now show 8.2 million oz. AU up from 7.8Moz. This is on 298 million tons at .857g/t for the grade.
For all of Goldstorm I show 28.36Moz. up from 26.3Moz.
Effective with this Press Release I added a calculation matching Goldstorm against the current data for Iron Cap instead of benchmarking against detailed drill data from 2010. Based on that comparison, Iron Cap shows 2.322 billion tons at about .45g/t for total resources in all categories of 33.09Moz (see detail here):
https://assets.website-files.com/5f8f6760f825687e7c1c6508/5fdb652460559d050e6cd7ef_12172020Reserves-Resources-Dec-2020-withSnowfield.pdf
Goldstorm shows the 28.36Moz. on only 1.33 billion tons because the grade is .66g/t (about 47% higher than Iron Cap!).
When I extend that comparison to the 300H, the grade difference is larger -.857g/t is 90% higher than Iron Cap's average. So only 298 million tons gets us to the 8.2Moz. Compared to Iron Cap, Goldstorm 300H will be a very efficient mine.
When plugging this data into the stock valuation model, I now see Teuton stock at a fair value of $4.89 US$, or about $6.35 CDN$. I'm using $65/oz. as the value for 300H gold in the ground, $1900/oz. as the price of gold for calculating the Goldstorm nsr, and 59.4 million Teuton shares fully diluted. I am not including any value for Goldstorm resources other than 300H at this time.
I'm open to calculations and input from other folks to review and discuss.
Do your own due diligence. GLTA. Doug