BFS on a robust deposit.....A Bank Feasibility Study done on a very robust project..... whats it worth? Apparently nothing. Not for LGO or for NTC that just today released a BFS for Mactung with a 2.9 year payback and a $2/share NPV (currently trades for about 17 cents)......
Both companies have very robust high grade projects but are being value at less that the actual cost to get to the BFS stage in the first place. Majors looking at these deposits must be just salivating, knowing that they can be had for so cheap. I think LGO has spent some $35-$40 Million on Maracas to date for development. I'm sure NTC's Mactung has had costs higher than that to date......
Half price sale on 'to BFS' development costs seems to be the valuation of the day.
lurk