RE:RE:per share value comparison Great analysis but everyone involved at TC believes there is more than 20 million ounces there. I think this sells for A LOT more than $200 million. The tunnel alone is valued around $200-250 million.
I am sure you are all aware of Walter storm's previous gig: Osisko mining. He sold Osisko's Canadian Malartic mine to Yamana gold and Agnico eagle for $3.9 billion....
We should also keep in mind that Canadian Malartic mine was sold when gold prices were in the gutter in 2014. Now we are entering a bull market for gold - this also increases the value of TC. Additionally, all three of the managements at TC believe, this could potentially be an open pit mine with 20-40 million low grade ounces. Regardless, after speaking to IR guys at all three companies and doing my own research here are some things I have been told or concluded:
There is at the very least 20 million ounces at TC
Initial plan was to provide a maiden resource calculation spring 2020 but Konkin believes there is a lot more gold (up to 40 million ounces) and for that reason, he does not wish to release a maiden resources estimate until spring 2021. "Konkin says we get one crack at this and he does not want to under-sell"
They have already been approached by a couple of majors regarding TC buyout
If drill results continue to come in strong, this well sell for north of a billion dollars. I am confident about this because I expect by 2021 gold prices will be higher than $2000.
Valuations:
Using $1 billion as the valuation of TC (to keep the math straightforward)
AMK = $200 million = 40 cents/share
TUO = $200 million = $4/shares
TUD = $600 million = $3.60/share
It sounds crazy but the more you research it, the more all of these make sense to me. Oddly enough, all three of the companies have explicitly told me things along the lines of "this is not going to be seabridge and go from $1 to $35 but it is at least a 5-10 bagger"
Eric sprott is not loading up on AMK at 8 cents and TUO at 40-50 cents without a reason. I know this board is no longer his biggest fan but these things still need to be taken into consideration. I own all three and bought AMK at 4 cents but sold at 9 cents as the valuation on TUO came down. My goal is to own as much of TC as possible at the cheapest valuation by the end of 2020, irrespective of the company. If valuation on TUO goes up and AMK becomes cheap, I will trade/rotate accordingly. These stocks are not going to go up due to every day trading - the move up will be all in one shot when this is sold.
This is my analysis/opinion after months of obsessively researching this and hounding management for information. I could be wrong but I really do believe there is a chance to make life changing money here and I am going to take that chance. GLTA