It All Depends on Ounces in the GroundI don't have the information at hand that indicates what managment projects could be discovered at Springpole, but comparing it to other Alkaline gold deposits in North America which contain Multi-Million Oz's of Gold, what if Springpole proves to be similar and contain a several million Oz of Gold deposit?
Well once the resource is established and placed in the Proven and Probable category, we can see an evaluation of US$160 per ounce of gold in the ground even before it is mined.
So for every 1 Million oz of gold proven at Springpole, GCU with a float of 105 million fully diluted shares would be worth US1.50 / share (US$160/oz divided by 105 Million shares) and that is if all the warrants and options are exercised which if that kind of resource is proven, I have no doubt they will be.
Here's the part in the Presentation about Alkaline gold deposits:
Springpole is not like other Canadian Shield deposits.
? It is an alkaline gold deposit. Examples of this type of
deposit include Cripple Creek, Colorado (28+ Moz);
Porgera, PNG (29+ Moz); Lihir Island (40+ Moz); Lake
Cowal, NSW (5+ Moz); Rosia Montana, Romania (20+
Moz); Penasquito, Mexico (20+ Moz); Rattlesnake Hills,
WY (?)
? These deposits tend to be geologically subtle in many
respects. They also display complex geometry. Almost
all have an early, low grade “porphyry” style of
mineralization with a late, high grade “epithermal”
overprint.