OTCPK:GWAXF - Post by User
Post by
Tim2Agamion Aug 14, 2024 9:55am
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Post# 36178291
Unfairness Opinion
Unfairness Opinion
Eight Capital based its "fairness opinion" on a nine year old stale-dated report ...
The assessment of fairness, from a financial point of view, must be determined in the context of the Acquisition. In connection with rendering our Opinion, we have reviewed or carried out (as applicable), considered and relied upon, among other things, the following:
f) NI 43-101 Technical Report for the Bradshaw Gold Deposit in Timmins, Ontario, effective July 15, 2015 and further amended September 15, 2015 prepared by Stantec;
The Stantec report of 2015 reached its conclusions based on a price of gold and projected price no longer relevant; the report states
Revenue is generated assuming a 93% process recovery rate from bench testing, a gold price $1,200.00 USD/ounce and an exchange rate of 0.80 USD = 1.00 C$; forecast gold price $1500.
Eight Capital is so far out of the loop -- or incomptenent in math and temporal reality -- that it has not recognized that this is (a) 2024, and that (b) the price of gold (and related assumptions) used by Stantec in an assessment of the underlying resource(s) of GWA has doubled since the Stantec report nearly a decade ago -- and POG is now at $2500, a price which is nowhere reflected -- or wilfully ignored -- in their "fairness report" to the Chinese mandarins.