Gold Resource Corp did a press release of their NI43-101 report yesterday. GORO is my single biggest stock holding. Its also my single biggest investment winner since I bought in big somewhere in the $4/share range (more than a six-bagger).
I would say the numbers came out about as expected. Here's a quick analysis of the numbers. Italicised numbers are straight from the press release. All other values are calculated from those numbers, current metals prices and a market cap of 1.46B$.
I looked at the 7% g/tonne cutoff grade numbers because they claim to be a high-grade gold miner. Here's my observations (based on numbers in the spreadsheet)
- Cell F7 - Silver Resource Corp - GORO is much more (roughly 2 to 1) of a Silver Miner than a gold miner at current prices.
- Cells L6, M6 - Either GORO is going to actually mine a lot more metals than is in this report or GORO is quite overvalued. Maintaining and increasing market value depends on exploration results. The deposit is open along strike and at depth and they have been drilling for months and found a third vein which will, over time, increase the amount of metals to be mined. In addition, GORO has other prospective properties nearby. Still, with GORO doing quite well recently on increasing production my main concern has been the lack of specific, individual drill-hole type exploration results. I expect that there is more metal to be mined and I remain an admirer of GORO's stockholder friendliness, mining and exploration competency, and the rocks on their properties. I expect I'll hold my current out-sized position.