I think around $300 ounce value is appropriate valuation which would value SPR at $750 million Plus capital, 1 billion total tops.
Newbie and tyre kicker here.
As of March 18, 2025, the price of gold is around $4,699.70 per ounce AUD. What are your drivers for assuming the POG might drop significantly over the next year let alone next 13 years I can see nothing except vague mutterings about the cost of production. The POG is likely to eclipse this consideration.
What are your AISC estimates? The POG should be central to any analysis of a gold miner/near producer.
I can't follow your logic or valuations at all. It's macro illogical and penny pinching. Who do you write for?
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