MOZThese projects look similar in size and scope to me.... but there must be major differences.
How come MOZ has a market cap of $500 000 000 ( which was recently $1 000 000 000)
How come they are worth 10 times as much as us?
As to continued drilling while we have all this money, most of the companies that are emerging as great companies are drilling non stop. So i don't understand I guess budgeting and all that stuff. So when I suggested keep drilling instead of waiting until next fall I guess I was just looking at what other companies are doing.
We are at about 60 million. These guys are worth 10 times as much as us.
Marathon Gold
Market cap: C$665 million ($550.3 million)
A worker in the core testing room at Marathon Gold’s Valentine Lake project. Credit: Marathon Gold. Marathon Gold (TSX: MOZ) is new to the top ten list this year, and is advancing its 100%-owned Valentine open-pit gold project in the central region of Newfoundland and Labrador.
A feasibility study released in March outlined a mine life of 13 years producing an average of 173,000 oz. gold a year and C$119 million of annual average free cash flow between 2024 and 2033 from the processing of high-grade mill feed, and 56,000 oz. gold a year and C$31 million free cash flow annually between 2034 and 2036 from the processing of low-grade stockpiled ore.
Initial capital costs for the two-pit and centralized mill operation were estimated at C$305 million that could be paid back after-tax in just under two years. The study forecast life-of-mine cash costs of $704 per oz. and all-in sustaining costs of $833 per ounce. At a gold price of $1,500 per oz., Valentine’s after-tax net present value at a 5% discount rate is estimated at C$600 million and its after-tax internal rate of return at 31.5%.At $1,750 per oz. gold, the NPV rises to C$868 million and its IRR to 42.2%.
The feasibility study contemplated open pit mining from the Marathon and Leprechaun deposits only, and excluded mineral resources contained within the Sprite or Victory deposits, or any potential resources from the Berry Zone. The study also envisioned ground-breaking for site construction in January 2022, followed by a 22-month construction period and first gold pour by October 2023.
The project has proven and probable reserves of 47.06 million tonnes grading 1.36 grams gold per tonne for 2.05 million oz. contained gold. Measured and indicated resources, inclusive of reserves, stand at 56.66 million tonnes grading 1.72 grams gold per tonne for 3.14 million oz. gold. Inferred resources add 18.25 million tonnes at 1.70 grams gold per tonne for 1 million ounces.