Price of Gold in the groundFrom this article:
https://www.munknee.com/how-to-value-a-junior-miners-gold-in-the-ground/ "As a matter of perspective, a few years ago the market was giving a company about $25 per ounce Inferred, $50 for M&I, and about $100 for P&P. Then, when gold ran up over $1,000 before the crash of 2008,
these valuations went out the window, and some companies were getting over $100 for merely Inferred ounces – do we have your attention now? "
" Today, the market is willing to pay more for advanced and producing stories ($160 P&P) but is discounting earlier-stage stories, hence the lower M&I valuation than in previous years ($30).
These figures will change again as the market’s appetite for risk changes. "
Today the market does not care about the resource sector. As i said before, gold still has to break above a strong resistance but is consolidating right now just above $1550 before the next push higher.
With the actual economic situation in the US and in the world, there is a good chance that gold will test and probably make a new high in the next year or two. These valuation for gold in the ground will certainly be higher when gold breaks above 2000$.
NGC needs to plan in advance to keep the Eleonore mine running. I don't think they will wait before the price of gold rises too much before making an offer.
[url=https://ceo.ca/@goldfinger/gold-continues-bullish-consolidation][/url]
https://i.postimg.cc/gjp60bwF/chart.png