RE:TradeaheadGood post![
.
quote=WisGuy1]
With a formal valuation of 0, on the 900K ounces at BC (because they are not valued in accounting as long as they have not been sold or extracted)
NVO still has OTHER net assets of C1.74 per share according to its auditors. Add in the 43-101 ounces, adjust for E3D and net assets jump to C2.47 per share.
Attempt to calculate all of NVOs land rights, on the basis of general pricing of land rights per hectare at other early stage gold explorers PRE-discovery, and you would come up with a price of C 21 per share due to its very unusually massive land package. (page 2 - https://cdn-ceo-ca.s3.amazonaws.com/1gr9jds-novo3.pdf ) - some of that by the way, borders a 667 GRAM-METER hole from De Grey.
Considering a +12,5M net cash from operations (net of operating expenses), one cannot label BC a money pit. It does produce cash. We can discuss that we would like production to go up a bit relative to last month published, sure. But it does produce more cash than it consumes. And I am sure we will see improvements in production going forward, one way or another. (Either BC accuracy improving or better grade being fast tracked in from Genie, others, ore sorting, etc.)
[/quote]