RE:RE:$10 per ounce in the ground vs. $100-$200 for peers...The Sprott model from early this year projects a 2026 NAV of nearly 2 Billion at $1850 gold. At 1x NAV that equates to a share price of $5.25. To get to 1x NAV the POG needs to be above $1850, the miners need to be in favor, and the economic backdrop for gold, inflation etc need to be going our way.
So far so good.
The feasibility study is going to be better and more robust than the Sprott model.
Along the way to commercial production we should trend towards that 1x NAV. I would think that 2024 should see a re-rating to at least 0.5 x NAV or over $2 per share. A triple in 2024 looks more than likely.
If financing goes well, permits advance, construction begins then 0.6 x NAV should be doable and a $3.50 to $4 price is possible.
Even if share count doubled 1x NAV is $4
I'm still mystified why this project is still under the radar and trading at 10% of future NAV and 10% of what peers trade at based only on gold in the ground.