RE:RE:3 Independent FS Estimates of Keats Trench Ouncese grasde IThanks for posting your excellent sleuthing work, Sherlock.....er....Nozz.....
and. please don't respond by saying, ' Elementary, my dear Warren'......
All kidding aside, this is the kind of analysis that needs doing here.
The results you are posting from your arithmetic, at first glance to newcomers might seem incredible, and hard to believe possible.
But, this amount of gold contained within Queensway has been speculated for some time. And, your analysis is just for a tiny section of the entire Queensway project, which has signs of gold up and down the two faults traversing QW from North to South, which already span over 100 kilometers in length, each faultline, with gold in soil signs proven in many places along these fault lines.
I have found it incredible for people to say Newfoundland may be similar to the Abitibi belt which produced 200 million ounces of gold in the past 100 years, and maybe 100 million ounces will be mined in Newfoundland....but, I have come around, and now assume NFGs QW project is likely, at a minimum, a couple of tens of million oz or more, and possibly much more.
Others have estimated how much gold has been found so far just on the tiny north area you have analyzed, and only down to 300 meters. Yours is the highest, but it appears that your math and procedure is solid.
If we assume that a more modest amount of gold discovered to 300 meter depth and minable by open pit, say 5 million ounces to 10 million oz, which is in the range of others' estimates, that is still a lot of gold, and much more than adequately under pins the market cap of NFG today.
Many experts and those close to NFG have stated their belief that QW will be being mined for decades into the future. Given the range of high grade gold ore that has and may well or likely be found on QW in the years ahead, the cash flow generated from QW may well be breath taking......especially with gold in a long term significant uptrend.
NFGC stock, if NFG stays independent, could conceivably climb above $100 USD in the years ahead if they just mine 20 million oz through the next decade or two. Doing a discounted cash flow study shows this.
Thanks for posting your work, Nozz!