Big River Gold(BRV:ASX) is currently looking for funding to start development of Borborema Gold Project in Brazil. BRV:ASX announced in September Quarterly report that funding will be concluded by end of 2020. The Company has appointed Auramet an advisory firm to organize funding for the development of Borborema gold mine. Auramet has a good track record of organizing finance for miners.
The Borborema Gold Project has 2.4Moz gold reserve. According to the BRV's DFS the AISC is just $713 USD. BRV:ASX is currently trading at 0.047(at the time of writing). If finance is approved then the share price may reach between 9 cent to 20 cents. BRV:ASX is aiming to generate $89 million annual income with the conservative gold price $1550USD. The current Market cap of BRV is about AUD $70 million, which shows BRV may be an undervalued gold stock with high potential. Insiders are showing confidence by holding 71% of total BRV outstanding shares.
Note: This is not a financial advise. Please make your own decision.