875,000 ounces of goldIn my humble opinion, the share price of GBB is way undervalued. On Friday, GBB closed at 21 cents,
market cap $35.28M. Today, the av for Inferred Gold $40 oz, Measured & Indicated $60 oz for a Jr.
explorer as GBB.
That means the market is saying, GBB we believe you have 875,000 oz of Inferred Gold x $40 = $35M
We know the Block Model is 2.4-2.6M ozs, lets say 2.5M ozs, surely with 76,000 mtrs of drilling, there
is a Minimum of 3M ozs gold. I have enough confidence in Frank to believe he wants to ensure the
Measured & Indicated exceeds the Inferred #, so for fun lets say:
2M ozs M&I x $60 = $120M
1M ozs Infr x $40 = $ 40M
Total 3M ozs $160M div by 168M shares = almost $1 per share, a 5 bagger
It is possible the 43-101 will have more than 3M ozs - this could be the chance of a lifetime to buy
a stock with potential, trading at 21 cents.