RE:RE:RE:PEA........In looking at WRN numbers: NPV of 2.3 billion. MASSIVE up front development costs with an IRR of 19%. Will need a lot of financing/dilution to develop and will DEPEND on a takeover or joint partner. Market cap 370 million.
ANX - likely NPV 800 -1100 million. Very low upfront development and operating costs. Self-financing for a lot of this development (once the good stuff from argyle and stoger tight starts getting pumped through the mill). IRR will be around 60-70%, which is incredible, as well as a very low AISC per ounce. ANX will need minimal dilution and can probably do a lot of this with financing with loans. This won't count a lot of the ounces in the ground that we know about and a lot more that we don't yet fully know about (the treasures on the way to Dolliver Mountain)
I see market cap range potential of 200-400 million for ANX after the PEA, probably in the mid-range of this. This is based entirely on goldboro, not even giving a value to the Newfoundland assets. Anyways, the PEA is coming up quick and time will tell.