RE: Going into gold production less than Β£2 mil mcap10 Dec 2025 16:37
Just looking at Bonanza in isolation, the g/t Au they identify will make for interesting reading - previously looking for between 8-12 Au g/t (with most of my calcs based off of 10g/t x 4t a day).
They successfully mined Bonanza at 63g/t and a former explorer/miner St Elias recovered over 1,157 tonnes at an average grade of Au 32 g/t from three veins over Tesoro...
At 10g/t based upon 4t a day extraction (at $4,200/oz & $1,500 costs) you're looking at $2m/yr TO with $1.3m net profit.
At 20g/t this moves to $4m / $2.64m (per annum)
At 30g/t this moves to $6m / $4.08m (per annum)
At 63g/t this moves to $12.4m / 8m (per annum)
Using a conservative P/E of 5 - this takes you anywhere between $6.5m mcap to $40m for Bonanza alone...
All of the above EXCLUDES the funded GOPP activities & the other 5 mines at Tesoro (plus future phases elsewhere).
Β£2m mcap will look like a joke in the near future.