Explor Resources Inc. (fka EXSFF)

[gharma]

NS43-101 says there is 200K ounces at TWP, and if you use $600 per ounce net revenue which leaves $1000 per ounce for costs to pull out of the ground, TWP alone is worth 120M.

I don't follow that. $1000/oz is operational cost of mining and admin, and the 200K oz time $600 gives the $120 million you mention.
But how is that what TPW is worth? There is at least 5 times that cap ex in order to operate, extract, and recover that gold.
As someone else mentioned, the issue as I see it is the lack of consistent widths of decent grade. The depth becomes a non-issue, or at least a tolerable one, if there were minable widths of good grade over distance.
As far as I can tell there are no known veins, let aside ones of that sort of minable nature.