Jul. 27 at 2:08 PM
$GORO I recalculated the net asset value based on the daily metal prices on July 25, taking into account that the expanded number of shares is 136.45 million. In the DailyMetalPrice table, copper is USD 5.7839/lb, lead is USD 0.9162/lb, zinc is USD 1.2844/lb, gold is USD 3,346.60/oz, and silver is USD 38.735/oz. Based on these figures, Back Forty's 2.5 M oz AuEq and ~30 M oz of silver, as well as 327 M lb of copper, 2.1 B lb of zinc and 12 M lb of lead, have an in situ value of approximately USD 14.1 billion. The Don David M&I resources (557 kt at 1.15 g/t Au, 129 g/t Ag and associated metals) are valued at approximately
$0.28 billion at the above prices. Together, this amounts to ~USD 14.38 billion; calculated at a 5% realizable value, this gives a NAV of USD 719 million, which, projected onto 136.45 million shares, is approximately USD 5.27 per share.
