best bits..2 Dec 2019 08:17
At the current gold price of US$1,450/oz, the Definitive Feasibility Study or DFS-based NPV of the open pit (US$171 million) added to that of the PEA-based NPV of the underground mine (US$74 million), totals to the aggregate Project NPV of US$245 million.
On this basis and after taking into account that KEFI has already invested nearly all of its contribution to the Project equity, KEFI's 45% beneficial interest is US$130 million (approximately £101 million), about eight times the current market capitalisation of the Company.
This does not include further potential upside offered by exploration underground where extensions of the 5.6 g/t Indicated Resource remain untested, in the adjacent Tulu Kapi district, where several areas of drill-intercepted pre-resource mineralisation require follow-up and in Saudi Arabia where drilling is currently intercepting massive sulphides in a large Volcanogenic Massive Sulphide occurrence.
8 times current MC