Monarch/yamana comparison numbers
Monarch being taken over by yamana is an interesting comparison as well. 1.8Moz for 200 million or around $110 per ounce. They had a feasibility study but had litlle cash, no production and no way to bring the mine into production without a partner. AND yamana owned a huge chunk of monarch already anyways, which reduced the chance anyone else would sign on. At 2.25Moz for anx, $110 per ounce puts a value of around $250 million for acquisition. So there is my broad range, from around $250 million, which is probably much too low to 900 million which is probably too high right now. Either way much higher than current market cap. That's at goldboros current stage. Once the feasibility study is in and the mine is permitted, it goes to the top of that range assuming current gold prices or a bit lower. The upside, especially as goldboro approaches production, is huge. Sprott is a company that will further the super district in the maritimes. They are in a lot of companies in newfoundland already. Maritime would have been good when they tried (and it probably would have been better for their shareholders had it happened) but I think that ship has sailed and Kevin is looking at other companies further away. The majors and even mid cap gold miners are sitting on tonnes of cash right now and would love a 2M Oz canadian mine to add to their resources. The bigger the resource estimate the better. My personal preference is for anx to focus on developing goldboro asap on their own and start saving cash to make it happen. There is a lot more gold surrounding the deposit they are delineating at goldboro than what we will see in the updated resource estimate as the goldboro deposit extends beyond the area they have focused on. Once it is in production it will be worth even more. I see buying an anx share right now as buying an ounce of gold for 40 bucks in the ground and 100 bucks out of the ground, a steep discount to the current price.