Marmato ReratingThe Marmato 14 million oz M&I&I doesn't include Marmato deep.
The company says they are working hard to update Marmato to include the latest drill result, and coming up with a cost and capex analysis for an expanded underground mine.
The 2016 drill report said
"The strike extent of this deep body is approximately 800 metres, while the vertical extent is approximately 850 metres, with a width not less than 100 meters. This body is still open along strike and at depth."
Marmato deep is huge and higher grade than the mountain above it.
If they include the past 800 metre drill holes, maybe as inferred, then Marmato deep could have as much as the 14 million oz above it. There would definitely be a big jump in oz if the update includes Marmato deep.
The 2012 PEA said underground cash cost was $500/oz with a scaled up plant and power from electric power line. The Colombian peso was a lot higher in 2012 than it is now. With Marmato deep being higher grade and huge, the cost may be low also. If they do an economic analysis, the NPV could be huge, maybe near $600m to $800 million in the range of the 2012 PEA.
If they give a big NPV for the upcoming Marmato update, hopefully the market takes notice and rerates Marmato from near zero value to the world class deposit value it should be. Multiple times the current market cap of GCM.