RE:Napkin math points to just under 24 million ounces of gold Great results! But, what am I missing??
Based on the drill results to-date in 2023/24 added to the inferred gold from the latest PEA, we can safely infer (as verified by Napkin Math here: https://miningexplained.com/freegold-ventures-napkin-math-20240207/), there is just under 24 MILLION ounces of mineable gold at this property. And, that does not include the new hole results from the Saddle Zone area 4km east of the discovered deposit!!
To be detrimentally conservative in my calculation, if I take just 1/10th of that inferred gold (and, I'll just say that's 23 Million ounces) as market trade-able asset....so 2.3 Million Ounces and multiply that by the reasonable price of gold being traded at $2000/ounce, the liquidated price of 1/10th of the KNOWN deposit here (only to-date as well) is 4.6 to the 9th power....in U.S. dollars.
THEN, if I take that number and divide it by Freegold's current market cap (as of 2/9/24) of $ 123.7 Million (value of company), that leaves me with 37.19.
That means that just one-tenth (1/10th) of the inferred gold discovered at this location to-date (not including the Saddle Zone) is worth more than 37(!) times this company's current trading value.Any investor who enjoys making money in any industry or commodities market would bring an army to jump on such an investment! A BIG army.
So, why is Freegold trading at such a terribly, devastatingly, unbelievably supressed value?? So, back to my introduction....What am I missing??