By Otto Rock
A minor part of the Weekly IKN473, out last night.
We join this conversation half way through:
A: So do you agree that it’s going to be very difficult to reach a 43-101 or JORC compliant resource number for NVO?
B: Yes, we agree on that. But that doesn’t make the company worthless! They clearly have a lot of gold!
A: And I agree with you on that. But what I’m interested in is monetizing it, making the company profitable.
B: Me too.
A: Good! We’re on the same page. But what really matters is being able to justify the current market cap, because if you include those very-in-the-money warrants (and you have to, really) NVO is now revolving around a $1Bn market cap. That’s expensive.
B: Okaaaay…if you say so. I think NVO is cheap!
A: Fine. So in that case, I’m not even going to ask you to justify a future where NVO is double or triple today, all we are going for is to justify $1Bn.
B: They have a lot of gold!
A: And a lot of market cap valuation, too. Let’s justify its market price with that gold, yes?
B: Well, you do what Bob Moriarty says! You mine it!
A: I agree 100%. Now, how do you mine it?