Teuton's NSR valuationFolks are discussing the value of Goldstorm's in the ground resource at $20 - $100 per ounce. However, what is neglected for Teuton is the value of the NSR. On Goldstorm, the Teuton NSR is 0.98%. For this exercise, just round up to 1.0% (yeah, shoot me).
If you take a 30 million ounce deposit, that would be a future value on 300,000 ounces of gold. At today's prices, the undiscounted future value is $600 million. Even if you assume half the current resource is minable, that is still $300 million, Again, at today's prices, that translates into a $20 per ounce valuation for the NSR alone for Teuton (using the full 30 million ounces). You can add this to the $20 to $100 per ounce market cap value you give to the deposit.
Of course, you can plug in different values for discounted time value, but the point is, the Teuton NSR is not insignificant, and potentially doubles the value of Goldstorm to Teuton relative to the other partners. On top of this, Teuton is given a free ride until a construction decision is made. Folks are advised to factor this in while selecting between which Treaty Creek partner to invest in.