a-dv-fn post23 Jun 2021 11:48
Taken from other BB - great summary of where we are currently and cold be heading during course of 2021
"No, not 4 million ounces by the updated MRE in Q3. He said that will likely be approaching 2 million ounces. The 4 million ounces comment relates to what he is confident is there. It wont be a resource in Q3. So for example some of the step-out exploration drilling has hit gold, but they wont have the drill density for that to be converted to a resource. Its merely to show the big boys that there is huge exploration potential on top of the resource.
The average takeover price for N.American discoveries is $90 per oz... 2 million ounces x $90 is $180 million or £130 million, which equates to a share price of £1.10. I think this is easily attainable, very realistic and quite conservative. This does not include any of the battery metals, which as BH highlighted in the interview are worth nearly as much as the gold. This will not be overly sensitive on gold price - the $90 average is largely based on pre-covid gold prices.
Punters just don't realise this yet, its being priced as if it were some form of rogue exploration company. Indeed, some companies who have no resource, no drilling appear to have similar market caps, its crazy when you think about it. BAM is the real deal and will be a mine.
Ultimately most undervalued companies revert close to fair value at some point. Patience needed.