It’s worth more than $60 an ounce if you take into consideration a few things.
The grade is likely to above the standard mine.
They don’t need to build a plant and could toll treat. They are likely to have near surface gold.
Low start up costs. Many established gold mines trade at many times that number for obvious reasons.
Most mines are running out of ore and need to keep the music playing. Take a look at EAR and OKU.
Both have seen their registers raided by mid tier players for obvious reasons. BC8 is not as established but an aggressive successful program can get this on the radar this year. I don’t think they will have a lot of issues hitting 250k ounces myself but I am interested in the grade, that changes everything.
The other thing to consider is the gold price. It’s been lagging for a long time and might just have got the wake up call it needed. No guarantees in anything, but I consider an interesting explorer. As you say, see how the first 200 holes go at this address and go from there. Dyor.
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