As I am constantly searching for new opportunities I came across Romarco minerals R:TSX. Currently trading at $1.85 down from nearly 2.60 in mid march with a market cap of $925 million. PDG trading around 50 cents has a market cap just north of $100 million

Romarco recently released a feasibility study on theor Haile mine in S Carolina. comparing the two companies in the table below.

Note that the project economics measured by NPV and IRR are significantly better for PDG (although the assumed gold price is 5% higher as well). Kind of gives an indication of the potential of the project going forward. I'm not suggesting PDG will be worth 900 million next year but having a bankable feasibility study under your belt, followed by financing, permits etc will add significant value to the company.

Note this is not an apples to apples comparison, Proven and probable reserves can only be determined through a feasibility study and as such PDGs "minable ounces" are still in the indicated category. Also Romarco has a much larger resource that can be expanded in all directions. PDG can expand as well and there will be much work to do over the next year to upgrade the resource from indicated to eventually "Proven and Probable" in the FS. Beyond that, there is the potential for expansion drilling at depth.

So far I'm liking what I'm seeing.