New NEXG Even more undervalued after the merger NEXG seems even more undervalued after the merger than before. Indeed, Enterprise Value has fallen from 7.6% to 5% of NPV@5% (gold $2500), while each ounce of MI+INF resources is now valued at US$11.7, compared with $17.9 before the transaction for the GGC asset alone. What are we to make of this when the price of gold has remained stable and high? Do we think that the merger devalued the new entity, which would surprise me, or that it was more favourable for NEXG shareholders than for SGNL shareholders, which could justify an increase in the share price (of the order of 50% to return to the same valuation levels)?