Fun with numbers --- +10 million oz Gold equivalent value From time to time I like to do the "fun with numbers" .
Using ther daily spot price of molybdenum from this website
Gold - US$1880 / oz
Silver US$22.25 / oz
Molybdenum US$40.82 / lb
Stuhini is sitting on 477,000,000 lbs of moly in a " pit constrained " measured, indicated and inferred resource completed by Mine Development Associates in early 2022 .
477,000,000 lbs x US$40.82 = US$19,471,140,000 (or C$26,175,053,500 ) in ground value
That would be the equivalent of :
US $19,471,140,000 / US$1880 gold = 10,356,990 oz of gold
US $19,471,140,000 / US$22.25 silver = 875,107,415 oz of silver
And here Stuhini sits with a market cap of only $19 million. It would be interesting
to see what Stuhini's share price would be if it were sitting on a known 10 million oz
gold deposit or an 875 million ounce silver deposit .
Greenland Resource was up 14.5% today to $1.35 / share for a market cap of $142 million. Based on some previous calculations posted here .....
https://stockhouse.com/companies/bullboard?symbol=v.stu&postid=35224190 ...... Stuhini should be trading at a valuation of at least 1/2 of Greenland Resources market cap, or say $72 million .
$72 million / 38.4 million shares outstanding = $1.87 per share
Stuhini is severely undervalued with the current molybdenum price.
For any new on-lookers, Stuhini owns the Ruby Creek moly despoit which was once operated by Adanac Moly Corp.
Adanac Moly Corp once had a market cap of $300 million and had advanced the Ruby Creek moly deposit to a construction decision after a 2007 feasibility study and had obtained an $800 million credit facility to commence development prior to the 2009 credit crisis and swoon in moly prices. .
$300 million / 38.4 million shares = $7.81 / share
The moly despoit is still there, with a $22 million sunk cost road access to the deposit built by Adanac. Unlike Greenland Resources Malmbjerg deposit, Ruby Creek is road accesible, with all infrastructure in place, an airstrip in Atlin B.C. is less than 15 km away, and the seaport of Skagway Alaska is 275 km by road away from the Ruby Creek moly deposit.
GLTA !