£2.25 per share of unicorn value here1 Dec 2025 12:20
Addicknt,
Yes, extremely interesting times. Have to pinch myself of what we have here...
1. Bankable NAV (Base Case) Feb 2024 PFS uses old metal prices (Gold $1,750/oz, Copper $3.85/lb) AND only values the Phase 1 Mine (18% of resource). £2.5 Billion 85p
2. Updated Bankable NAV based on current metal prices....using Dec 2025 Prices (~$4,250/oz Au, ~$5.20/lb Cu). The massive jump in Gold prices adds Billions . ~£4.5 - £5.0 Billion 150p - 165p. This is what IP was refering to previously,
3. Extended NAV (+Alpala Tail) Adding the remaining 82% of the resource (for those new, this was reduced because it would be very CAPEX heavy so SOlgold reduced the mine size but the metal is still there). Even heavily discounted (due to the fact it won't be mined for 20+ years due tot he sheer scale of it), it has huge value. + £0.8 Billion + 25p to share price
4. Adding TAM "Starter Pit" adds the confirmed 60Mt open pit at Tandayama-America. High grade, near surface, and provides early cash flow to pay back debt faster. + £0.3 Billion + 10p to share price
5. Adding Porvenir The Second Mine: Adds the Cacharposa discovery. Adjusted for 2025 metal prices, the NPV increases significantly from the original PEA estimates. + £0.5 Billion + 15p
6. Regional Exploration Land Bank Premium: Value for the 70+ other concessions (e.g., Helipad, Blanca) and the "strategic premium" a major pays to control the whole district. + £0.3 Billion + 10p
TOTAL STRATEGIC NAV The "All-In" Takeover Value ~£6.5 - £7.0 Billion ~210p - 225p
Not saying we will go for ANY WHERE NEAR that but just shows the scale of what we have here. Up to £2.25 per share of value.
Sign In
Follow the stocks
