RE:PEA News - Share Price ThoughtsHow do you come up with C$3.80 per share on 186 million shares fully diluted?
That makes a valuation of C$707 million. What developers in PEA stage are you aware of that are trading at 1.2x NPV at $1,700/oz. As almost always occurs, NPV drops from PEA to FS as costs are stricter, higher contingency used, and less material in mine plan.
If assume C$600M NPV in FS, and you are sugesting $3.80 per share in value, Goldboro is valued nearly valued at 1.2x NPV (as you say, 0 value in your $3.80 per share view for P. Rousse). Companies like Marathon, Ascot, and Capricorn trade at 0.75x NPV or less and they are closer to production, and closer to Feasibility Stage than Anaconda.
Most importantly, Nova Scotia is one of the worst-ranked jurisdictions in Fraser Institute, well behind Newfoundland, Australia, and BC.
Its ranked behind Papua New Guinea, South Africa, and Dominican and is the worst ranked Canadian jurisdiction. A rating of 0.7x NPV is generous.
"Quebec performed particularly well this year on the amount of time it takes to acquire necessary permits for exploration activities; half of respondents indicated that they were able to acquire the necessary permits for exploration in two months or less. Nova Scotia, on the other hand, was the only Canadian jurisdiction in which no respondent indicated that they were able to acquire the necessary permits for exploration in two months or less. The Pan-Canadian average for this measure is 26 percent."