RE: RE: RE: Preliminary Economic Assessment on DouThe NPV of $24m does imply that Vior should have the market cap you state. Apparently the market doesn't agree for some reason.
Actually, the story should be even better than this. The last resource calc in 12/07 assumed that at a 3g/t cut off, that there were 1,043k mt of 5.51g/t MI&I resource for total gold of 183k oz Au in Douay West alone. This updated study shows that 590k mt of 8.04g/t MI&I resource for 151k oz Au. That means they intend to mine 57% of the ore to get 82.5% of the gold versus what they showed in the last resource estimate, again for Douay West only. Tonnage isn't everything as some on stockhouse bullboards would have you believe--profitability is.
Further, they have other zones/deposits on the Douay property that are 43-101 compliant. At a .7g/t cut off the global resource was calculated at 269k oz M&I and 1,885k oz Inferred. For comparison purposes, Douay West at a cut off of .7g/t was calculated at 342k oz Au, so that would leave 1,812k oz Au in the other deposits, a number of which are shallow lower grade deposits possibly amenable to open pit mining. Look at a map showing the gold zones--Douay is an alteration zone of multiple lithologies and mineralizing events.
The company may have a bad reputation due to lack of focus in the past, or lack of activity in the recent past. They chased nickel, uranium, etc., as a number of others did, looking for a score to get funding when everything was hot. The president got ill, then died, and they appear to now have their focus on mining the known higher grades of Douay West only to get funding for further development.
They have other properties as well, the Vezza property is adjacent to an Agnico-Eagle mine site currently on hold (a mine site with a head frame and some resources, but not listed on the AEM web site). Agnico Eagle is also the SW of Douay, also with no information on the AEM web site.
I'm wondering when the vultures will start to swoop down on a number of these small companies with ounces in the ground and/or other mining equipment that no one cares about now, either to supplement their present operations or to give additional ore feed to a regional mill (existing or contemplated).