Ascot vs Pure Gold - Similar Market Cap I encourage Ascot investors to compare to Pure Gold metrics, which excludes recent PFS for satellite resources that added $50M NAV and mine life. Tell me why Ascot should be trading similarly to a company more advanced in all aspects especially approvals, resource drilling and engineering. Ascot is 50% overvalued and IDM 50% undervalued. Hence you now begin to understand why I am so offended by this dirty deal.
Shame on management. Shame on the BOD. Shame. Shame. Shame.
Here is what a much better valued gold play looks like IMHO:
Pure Gold - FEASIBILITY STUDY HIGHLIGHTS
Probable Mineral Reserves of 3.5 Mt at 9.0 g/t containing 1.0 million ounces of gold;
- Low initial capital requirement of $95 million including a 9% contingency;
- Mine life of 12.2 years with a 13 month pre-production period;
- Peak annual production of approximately 125,000 ounces with average annual gold production in years 3 through 7 of approximately 102,000 ounces;
- Life of mine (“LOM”) direct operating cash cost(1) estimated at US$607 per ounce of gold recovered;
- LOM all in sustaining cash cost (“AISC”) estimated at US$787 per ounce of gold recovered;
- Pre-tax NPV5% and IRR of $353 million and 43% respectively with a 3.0 year payback of initial capital; and
- After-tax NPV5% and IRR of $247 million and 36% respectively with a 3.4 year payback of initial capital.
Read more at https://stockhouse.com/news/press-releases/2019/02/11/pure-gold-announces-positive-feasibility-study-for-the-madsen-red-lake-gold#gGCsYUxeZjey7IbS.99