RE:RE:RE:RE:Question ?666999 wrote: As I said it depends what will final resource be and at what grade, there are companies that can buy such Mkt cap, but party begins at 5 M Au oz, big names will have to replenish their resources, takeovers are happening right now, or big names invests in juniors, like Rio tinto, BHP, Barrick, Teck...
Cheers
There is no such thing as a "final resource'. That will take a decade or longer to determine. Do not count on NFG selling anytime soon. When companies are sold, they are sold with defined resources + exploration potential. This fricken strike length and depth will take years to full drill out.
I had a look at the drill map in the last PR. You want my rough and dirty calculation just on the Keats zone they show on the map? Here is is with the following rough assumptions:
1. I am using 1.5 to apply to square metres since they do not equate to a tonne (depends on geology. I have another investment where in the PEA it uses 2.5, so I am using a conservative 1.5. I am not a geologist, however correct me if need be.
2. I am using an ultra conservative 10gpt average grade.
1. On the map I estimate the Keats zone drilling is about 400 metre strike and OPEN
2. On the map, the latest monster hole is about 400 metre depth, so I will use 300 metre to the entire area. Depth is OPEN.
2. Width-. I am not a geologist and this one is difficult for me. So there is no doubt the entire large zone is 50 metres plus?
So a rough, dirty, ultra conservative calculation:
400 x 400 x50 x 1.5 x 10= 120,000,000 / 31.1 = 3.9M ounces of high grade gold. If you change any of the calculations, the ounces go up fast and furious. If I change the gpt to 15, then we are at just under 6M ounces.
The above is ultra conservative, just in a small area with strike and depth open. I am also using a gpt estimate which is based on other high grade projects (which have not had the crazy drill results like NFG).
So now you know why the market cap is $1.5 Billion and change? Is it overvalued?
GLTA
BC