Excellent Proxy for Adumbi PEAAs posted previously, Marathon Gold ( MOZ on TSX.. Market cap of $450 m ) Valentine lake gold deposit is an excellent valuation proxy for Adumbi.
Valentine lake has 3.3 m ounces in its M & I and another 1.6 m ounces Inferred at an average graxe of 1.75 gms per ounce.
Marathon recently released its PEA for Valentine Lake whose essential details are..
NPV5 is $600 million at $1500 POG and NPV5 is at $868 m at $1750 POG.
Grades are 35 % higher at Adumbi.
Based on this PEA calculation..see link below..Adumbi PEA will have a NPV 5 of at least $600 million at POG of $1500 US.
MOZ trades at 75 % of Valentine Lake NPV 5 at $1500.
Applying this to Adumbi, Loncors fair value market cap currently is about $450 million or about $3.50 per share in CAD .
https://marathon-gold.com/site/uploads/2021/03/3-29-2021-Marathon-Announces-Valentine-Feasibility-Study-vFinal.pdf