African Region Gold Industry In-Situ Valuation Report 2022

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Dublin, March 28, 2023 (GLOBE NEWSWIRE) -- The "Gold Industry In-Situ Valuation Report African Region" report has been added to's offering.

The African Gold Industry In-Situ Valuation Report is designed to assist any person that needs to evaluate the in-situ value of gold assets or projects.

This report can be used to benchmark asset valuations, inform value expectations, identify over- or under-valued gold mining stocks, assess past or proposed transactions, or estimate impairment risk.

This report will add value to professionals in the gold industry, including Investment Advisory Services, Corporate Finance, Transaction Advisory Services and Audit Services. From the information provided, the value of any gold mineral asset can be quickly and accurately determined based on the estimated in-situ gold Mineral Resources.

Fundamental Premise

The fundamental premise of this report is that the value of a company involved in the exploration, development or extraction of material of economic interest in or on the earth's crust should be driven by the in-situ Mineral Resources.

All other plants, equipment, infrastructure and intellectual property associated with the company or project exist purely to increase the probability of profitably extracting the estimated Mineral Resources.

Therefore, companies or projects that have a higher probability of successfully extracting the Mineral Resources profitably will have a higher in-situ resource value per unit of mineralization.

The report covers the following topics:

  • Fundamental Premise: The report commences with a discussion on the fundamentals that drive the value of a mining or exploration company.

  • Valuation Methodologies: The valuation methodologies are detailed as prescribed by global regulatory codes. This section also highlights the limitations of these methodologies and provides context on how the datasets provided in this report can overcome the current limitations faced when using the Market Approach for the valuation of mineral assets.

  • The Market Comparative Dataset: This section walks through the process of data gathering, Quality Assurance and Quality Control, data processing as well as the validation of the processed results. It also summarises the African Projects Dataset, a subset of the Global Dataset compiled by the analyst, containing 92 assets held by 14 companies. The data is provided in the form of in-situ United States Dollar per Ounce (USD/oz) distribution curves for each Mineral Resource category. Mineral assets are further grouped by their development stage to simplify the identification of the appropriate value ranges for a mineral asset.

  • Using the Datasets: Simple examples of the applications of the datasets are discussed.

  • Company Analysis: This section provides key insights into the gold assets of each of the 14 companies in this report. This includes what percentage of their in-situ Mineral Resources are gold resources, the proportion of each Mineral Resource category, their development stages, their share price over the last 6 months, as well as graphical illustrations of the company assets on the USD/oz in-situ value distribution curves.

  • Transaction Analysis: This section highlights key details for each of the 7 transactions included in the Transaction Dataset. Each transaction is also compared to the African Project Dataset for perspective and to ensure the reader can tie all the needed information together to make the most informed decision possible.

  • The Appendices to this report provide the tables and graphs from the Dataset. Appendix 1 is a table of the African Project Dataset, including each project's attributable Mineral Resources and in-situ resource value ranges. Appendix 2 shows the Value Distribution Graphs for the African Project Dataset. Appendix 3 is a summary table of the Transaction Dataset.

The following contributing factors play a primary role in the probability of profitably extracting the Mineral Resources:

  • Mineral Resource Confidence

  • Development Stage

  • Jurisdiction

Key Topics Covered:

  • Overview

  • Introduction

  • Fundamental Premise

    • Mineral Resource Confidence

    • Development Stage

    • Jurisdiction

  • Valuation Methodologies

    • Limitations of the Cost Approach

    • Limitations on the Cash Flow Approach

    • Limitations of the Market Approach

  • The Market Comparative Dataset

    • Data Gathering

    • Data from Publicly Listed Companies

    • Transaction Data

  • Quality Assurance and Quality Control

  • Data Processing

  • The African Projects Dataset and Subsets

  • African Projects Dataset

    • Development Stage: Production

    • Development Stage: Pre-Production

    • Development Stage: Greenfields

  • Using the Datasets

    • Analysis using the Market Comparative Dataset

  • Company Analysis

    • African Rainbow Minerals

    • AngloGold Ashanti

    • B2Gold Corp.

    • Barrick Gold Corporation

    • DRDGold

    • Endeavour Mining

    • First Quantum Minerals Ltd

    • Harmony Gold Limited

    • IAMGold Corporation

    • Kinross Gold Corp.

    • Newmont Corporation

    • Pan African Resources PLC

    • Resolute Mining Limited

    • Sibanye Stillwater

  • Transaction Analysis

    • T007: Perseus Mining Limited - Orca Gold Inc

    • T021: B2Gold - Oklo Resources

    • T023: West African Resources - B2Gold

    • T024: Endeavour Mining - Semafo

    • T025: Endeavour - Teranga Gold

    • T030: Asante Gold - Kinross Gold Corp

    • T032: Allied Gold - IAMGOLD and Anglogold

  • Signature Page

  • Appendix 1: Global Dataset

  • Appendix 2: Value Distribution Graphs

  • Appendix 3: Transaction Dataset

For more information about this report visit

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