RE: Price of Gold7 Nov 2025 12:15
Yes, the heavy lifting has pretty much been done here now.
Around $50million spent on drilling across ANZA courtesy is one big part to the amount spent by Newmont at APTA.
I remember BG making the point when we got back 100% ownership that had we had not had the initial assistance from Newmont we would have put out an MRE a long time ago to underpin the SP and would have had to go down the usual junior route of raise, drill, raise, drill.
Until now none of all that historic drilling plus the recent pepas drilling has never been modelled into an MRE
The net effect is that this company is about to go from next to nothing/ speculative play to a circa 3 mil Oz Gold Maiden Resource Estimats over the next few months with plenty of scope for that to grow further.
£74m market cap is pure silly for a company with 3 Mil Oz of Gold.
In addition, this will be high grade, with low cost of extraction and a defined route to early production at PEPAS given the nature of the geological formation meaning its effectively an upside down pit contained within the hillside starting from surface making extraction very straightforward.
Then we have the blue sky potential from El Cedro and El Pantano, where results will be incoming shortly for the later.
All of that with a recent $20mil cash injection from instructions makes this a compelling buy at these levels.