It would be interesting to see NIA valuation of MG
It is hard to believe how the market is discounting MGP value.
I am happy that some folks woke up and realized that this play is way undervalued.
I was comparing Rainy River resources gold ounces with MGP and I was amazed.
Rainy River resources
Gold ounces
M&I 3,420,000
Inferred 3,170,000
Total 6,590,000
O/S shares 91,200,000 @ 11.4 per shares at 1,039,680,000.
The market value that this company is getting for each ounce gold M&I $ 304 per ounce if you exclude the inferred
ounces and if you do include inferred ounces they are getting 157.76 per each ounce of gold.
If you compare that with the Mega
Gold Ounces
M&I 624,604
Inferred 1,190,507
Total 1,815,000
Even if you take only M&I 624,604 ounces @ 157.76 per ounce we should be close 98,062,828 market value
At a combined M&I and Inferred ounce 1,815,111 @ 157.76 per ounce we should be 286,351,911
We also have 91,732,000 shares outstanding @ .75 value per share 68,799,000 Market value
At the end of this year Monument bay should have close 900,000 ounce M&I and North Madsen should be
300,000 M&I ounces and we should have close to 1800,000 ounces of inferred gold ounces to a total of approximately three million ounces gold.
If you calculate only the M&I ounces of Gold 624,604 ounces @ 157 per ounce we should have a value of a minimum of $98,062,828 without the cash of 7,000,000 that we have left.
It is crazy the market value we are getting for MGP I guess the market does really understand how to evaluate this play.
Now we know why NIA see this play as way undervalued by the market and they are correct to some extent.