DWM, I was a little bit disappointed reading your Market Oracle article.
They value gold resources with NI 43-101 categories only:
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Inferred: the lowest-confidence category, based on just enough drilling to outline the mineralization.
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Measured & Indicated (M&I): these higher-confidence categories have been drilled enough to establish their geometry and continuity reasonably well.
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Proven & Probable (P&P): These are bankable mining reserves – basically Measure and Indicated resources with established value.
- US$20 per ounce Inferred
- US$30 per ounce for M&I
- US$160 per ounce for P&P
So, GNH has NO NI 43-101 resource as of yet.
Is is worth nothing ?
But even with Inferred resources, my estimated first step 3M ounces would only be worth $ 20 x 3M = $ 60M market cap / 139M shares fd (after PP) = $ 0.43 / share.
Oh, nearly a double from today´s price ! Not bad for starters (if we only had a NI 43-101, though) !
What´s a fair share price then ?
Don´t know really, but all (theoretical) evaluations lead me to think, that we are UNDER-valued, at the least.
Good enough for me, to put my hard earned money in this company.
FANTOMAS
