Market valuation
I've been looking around for listed juniors similar to Tomagold and the company I keep coming back to is Vanstar Mining Resources which has 25% of the Nelligan low grade deposit in a JV with IAMGold. Nelligan is not far from Monster Lake. Infact building a mill to take ore from both would make a lot of sense. Vanstar's current market value was around 80 million although the Nelligan inferred resource estimate is 3.2 million ounces AU and open pittable. Vanstar is cashed up but still lacks (IMHO) the broad property portfolio that Tomagold has so it's not exactly an apples to apples comparison for valuation purposes. 80 million seems a bit rich for Tomagold but 20 to 30 million seems within reason. Even Tomagold's former bride-to-be Kintavar Exploration currently has a valuation of 10 million despite having very little to offer other than its Anik JV with IAMGold. Anik was originally going to be part of Tomagold's spinco assets. (all the numbers are Canadian dollars).
I'm also curious if Tomagold still has the option to aquire the company that in turn has the option to aquire the Phillibert gold property from SOQUEM. That hasn't been mentioned in any press releases since last year but it would be a great asset to have in the Tomagold portfolio and probably add many millions to the market valuation.