Tight capital structure upon planned listing in Q4
Following the completion of this C$12 million equity raise, we will have approximately 56 million shares at a valuation of C$0.50 per share. Assuming we complete the reverse takeover (RTO) with the cash shell, the share count will be ~78 million, which implies a market capitalisation of only C$39 million. The replacement cost of Laiva’s mill alone is in excess of $400 million and is blessed with infrastructure that is second to none in Europe.
Our geology team back SRK´s 2014 Resource modelling that shows there are 2 million ounces in their open pit shell design. This is based on the 3,636 holes that were drilled since work started at Laiva in 1950. Importantly only 85,000 ounces of the 2 million ounces have been mined, leaving a long mine life ahead in a rising gold price environment. This is one of the great things about Laiva – everything is already built and pre-stripped, not to mention the extensive exploration and drilling completed since its discovery 73 years ago that is now ready for mining.
This is the final call for our 50-cent seed round. We expect a significant revaluation once operations have resumed and trading in our Laiva Gold shares starts in Q4.
Click here to access the Laiva Gold seed round subscription form