Roxgold valuation
Expect over the next six months there will a 2 million ounce resource ( my projections). That is over $3 billion dollars at $1500 gold. ( only part of the drilling has been included in the resources and there is much more to come, plus a large land package around the area.
But any old deposit can have 2 millions ounces. The difference here is that our ounces are VERY HIGH
grade making the deposit more economic to extract plus it is AT SURFACE which means it is open pittable before going underground. Open pit is cheaper than underground mining and less uncertainty. At $100 per ounce in the ground, the valuation of Foxgold should be close to $200 million market cap. Right now it is only around $100 million.
Also we should get a a premium for the type of deposit and location. $250 million or about $2.00 per share should be coming within a year.
Any shares bought under $1.00 is a gift. ( also I know of a few mining companies with over $200 million in cash, looking to buy a company like Roxgold.)