Forget GOT's stock technicals, look at these fundamentals! Goliath results to date tell us the numbers are pretty straight forward.
Assuming assays are the same as last year, my calculations are:
1600 meters x 1600 meters x 12 meters
(news Oct 18th 2022 says 14.37 meters)
(average of the 92 holes) x 2.903 (specific gravity) x 6 g/t AuEq = 535,080 g/t / 31.1 =
17,200,000 oz AuEq
Based on a low CAPEX for a high-grade linear shaped underground mine, with what appears to be amazing continuity (very predictable) that would use traditional/simple gravity/flotation mill with the deposit above (700 meters of vertical relief from the valley below) with gravity working in your favor for mining.
Next, all the infrastructure is very close by (roads, power, town, deep water sea access, etc.) and not in way out in the boonies like some other deposits (4x CAPEX), super clean metallurgy with no deleterious elements with a 98.2% recovery of gold including the bonus of 38.1% free gold to make dor bars on site, environmentally friendly no cyanide required.
If everything stacks up as it looks like, my guess is it's worth at least in the ground C$200 x 17,200,000 oz AuEq = C$3,440,000,000 / 113,000,000 F/D = potential up to $30 per share or $3,390,000,000 market cap.
Fully diluted would add an additional C$33 million cash to their balance sheet.
My God.
This is not a recommendation to buy or sell Goliath. This is based on information released by the company to date. Always do your own due diligence and contact a licensed advisor before making investment decisions. I own securities in Goliath Resources.
If I am right, I will make a boat load of money!!!