RST, good question. "say there is 3.12 Moz what could that be worth on the open market if that was all there was for example, what would a company pay for that or what would it appraise for in the open market?"
We are very early on in proving Borden. The company has expanded the Strike Length to 960M, which is still being tested to the SE. Has tested gold at depth to 330M.
I wanted to show conservatively, that a deposit 960 x 200 x 200 (open), with assays avg 0.5-1 g/t, has the tonnage required and ounces necessary to develop this Low Grade Bulk Tonnage Deposit. Dave is on track to prove this possibility with an initial 43-101 (tonnage, grade, ounces) later on in the year.
Today, I see 1.56 to 3.12 Moz, depending on grade, 0.5 - 1.0 g/t, a minimum deposit size and expansion likely, and POG over $1400. Remember, there are costs associated with getting this gold out of the ground. A big plus is we are close to a highway (1 km) and the infrastructure of Chapleau. My analysis of all these factors and still some unknowns discounted to 1% shows a Borden valuation minimum of $1 per share today. (The discount will rise as the project becomes more proven, ie. an initial NI43-101 maybe 2-5%, Pre-feasibility, maybe 5-10% and so on until building a mine)
Cheers, Mark
