Mar. 19 at 3:51 PM
The PEA put out by
$IAUX used conservative numbers at 3K gold, 35 silver = NPV 4.9 (post royalty/converts 4B)
I did a model at 3500 Au/40 Ag and value is there w/ Mineral Point (this is why
$FNV has a covenant that funds be use to advance it)
The primary risk to the equity is not the gold price, its prolong delay (6 months or more) on commissioning the autoclave, plus mineral point is not permittable for some reason which affects the royalty and converts.
Since there's nothing new about this particular autoclave the risk of delay is low and since Mineral Point is standard open pit mine in NV the risk is also not receiving the permit to mine it.
Gold will have to break below 2k/oz before any upside to equity evaporates.