Newrange Gold — Early Assumptions

Newrange Gold Early Assumptions

I sought out third-party opinion on the numbers, and there is a sense that the average grade is off by a factor of 101 or more2 (Assumption Graphic Below), which, if true, reduces inferred to ~309,508 ozs. Hence, the more likely optimistic present value of the rock is US $385,337,604 with an acquisition value of US $38,533,760 and a US $0.40 target.

I’m not quite so skeptical (per Above): I envision a long-life, low-cost, open-pit, combination crushed-ore leaching (reusable pad)/run-of-mine ore leaching (dedicated pad) operation.

Newrange Gold Early Assumptions Update

Stay tuned.



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