Kinross PEA Values GBR 6.7 million ounces at $3.3 BillionThis would be a good proxy for the NFG PEA except that QWN would have much high open pit grades .
The GB Reserves were 5.3 million ounces , so about $625 per ounce of Reserves.
Napkin math most recent is about 7 million ounces all categories much like GBR.
There maybe better valuation proxies than GBR but the situational consistency is remarkable .
This PEA was supposed to be released by exit June 2024, so we are a bit late but in the interim, the success of the Deep drilling program has derisked what should be several decades of high grade low cost open pit mining .
BTW, $3.3 billion times 0.75 fair value trading value = $2.5 Billion or about $12 per share ....
https://www.kinross.com/news-and-investors/news-releases/press-release-details/2024/Kinross-completes-Great-Bear-Preliminary-Economic-Assessment/default.aspx#:~:text=Resource%20update%20and%20exploration&text=As%20of%20April%202%2C%202024,in%20addition%20to%202.7%20Moz.