{"id":9325,"date":"2026-07-10T00:02:19","date_gmt":"2026-07-10T04:02:19","guid":{"rendered":"https:\/\/www.inflation.us\/news\/?p=9325"},"modified":"2026-07-10T00:10:48","modified_gmt":"2026-07-10T04:10:48","slug":"viva-gold-hits-new-high-since-nias-march-24th-report","status":"publish","type":"post","link":"https:\/\/www.inflation.us\/news\/articles\/viva-gold-hits-new-high-since-nias-march-24th-report\/","title":{"rendered":"Viva Gold Hits New High Since NIA’s March 24th Report"},"content":{"rendered":"\n
\n

On March 24th, NIA issued<\/span><\/strong> one of its most important<\/span> reports<\/strong> in history, entitled 'Current Valuations = 2008 Financial Crisis Levels.'<\/strong> Click here to read<\/strong><\/a>.<\/p>\n\n

We highlighted how First Mining Gold (TSX: FF)<\/strong>, at $0.43 per share<\/strong> or US$35.95 per oz<\/strong> of gold resources<\/strong><\/span>, was trading at a valuation comparable to the 2008 financial crisis<\/span><\/strong>. The only company trading at an even lower<\/span> valuation per ounce<\/strong> was Viva Gold (TSXV: VAU)<\/strong>, at $0.13 per share<\/strong> or US$27.77 per oz<\/strong> of gold resources<\/strong><\/span>.<\/p>\n\n

Viva Gold<\/strong> closed today at $0.16 per share<\/strong>, its highest<\/span> closing price<\/strong> since our March 24th report. We believe it is very likely that Kinross Gold (KGC)<\/strong> will eventually acquire<\/strong><\/span> Viva Gold<\/strong> at a massive<\/span> premium<\/span><\/strong>.<\/p>\n\n

First Mining Gold<\/strong> deserves a significantly higher<\/span> per-ounce valuation<\/strong> now that it has received<\/span> EA Approval<\/strong>, and we don't<\/strong><\/span> believe the EA Approval<\/strong> has been priced in. It is impossible<\/strong><\/span> to value Springpole<\/strong> at less than<\/span> 20%<\/strong> of Skeena (SKE)'s Eskay Creek<\/strong>, and it could be worth as much as 50%<\/strong> of Eskay Creek<\/strong>.<\/p>\n\n

The truth is that First Mining's Springpole<\/strong> and Skeena's Eskay Creek<\/strong> have almost exactly the same<\/strong><\/span> total gold-equivalent resources. Skeena's Eskay Creek gold-equivalent<\/span> grades<\/strong> are approximately 3.5 times higher<\/strong><\/span>, but Eskay Creek<\/strong> has a high strip ratio<\/strong><\/span> of 8<\/strong>, compared to First Mining's Springpole<\/strong>, which has a low strip ratio<\/strong><\/span> of 3<\/strong>.<\/p>\n\n

Skeena<\/strong> closed today with an enterprise value<\/strong> of US$3.42 billion<\/strong><\/span>, compared to First Mining's enterprise value<\/strong> of US$623.18 million<\/strong><\/span>.<\/p>\n\n

Even if you believe Springpole<\/strong> is worth only one-fifth<\/strong><\/span> of Eskay Creek<\/strong>, or US$684 million<\/strong><\/span> based on Skeena's current valuation<\/strong>, First Mining's earlier-stage<\/span> Duparquet Project<\/strong>, which Keith Neumeyer<\/strong> consolidated for the first time in history<\/strong><\/span>, has total resources of 6.08 million oz<\/strong><\/span>, making it even larger<\/strong><\/span> than Springpole<\/strong> and Eskay Creek<\/strong>. Duparquet's closest comparison<\/span><\/strong> is the Moss Project<\/strong> of Gold X2 Mining (TSXV: AUXX)<\/strong>, which closed today with an enterprise value<\/strong> of US$431 million<\/strong><\/span>.<\/p>\n\n

Therefore, even a worst-case scenario<\/strong><\/span> fair value for First Mining Gold (TSX: FF)<\/strong> would be US$684 million<\/span> + US$431 million<\/span> = US$1.115 billion<\/span> in enterprise value, plus US$32 million<\/span> in net cash, for a total equity value of US$1.147 billion<\/span> or CAD$1.622 billion<\/strong>. This would value First Mining Gold (TSX: FF)<\/strong> at $1.17 per share<\/strong>, or 74.63% above<\/strong><\/span> today's closing price of $0.67 per share<\/strong>.<\/p>\n\n

Keith Neumeyer<\/strong> recently invested in NIA's latest brand-new <\/span>gold stock suggestion<\/span>, Westward Gold (CSE: WG)<\/strong>.<\/p>\n\n

The gold industry's<\/span> #1 biggest catalyst<\/span><\/strong> of 2026 will be the IPO<\/strong> later this year of Barrick's North American gold assets<\/span><\/strong>. Its cornerstone<\/strong><\/span> asset, Fourmile<\/strong>, is adjacent to where WG<\/strong> is drilling<\/strong><\/span> right now, targeting<\/span> Fourmile-like high-grade<\/span> gold<\/span><\/strong>!<\/p>\n\n

The gold industry's #1 most respected geologist<\/strong><\/span>, Dr. Quinton Hennigh<\/strong>, is the Chairman of Westward Gold (CSE: WG)<\/strong>.<\/p>\n\n

Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA’s President has purchased 100,000 shares of VAU and can buy or sell shares at any time. NIA has received compensation from FF of US$100,000 cash for a twelve-month marketing contract and previously received US$50,000 cash for a six-month marketing contract which has since expired. NIA previously received compensation from AUXX of US$30,000 cash for a three-month marketing contract which has since expired. NIA has received compensation from WG of US$60,000 in cash for a six-month marketing contract. This message is intended for informational and educational purposes only and does not provide investment advice.<\/em><\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

On March 24th, NIA issued one of its most important reports in history, entitled 'Current Valuations = 2008 Financial Crisis Levels.' Click here to read. We highlighted how First Mining Gold (TSX: FF), at $0.43 per share or US$35.95 per oz of gold resources, was trading at a valuation comparable to the 2008 financial crisis. […]<\/p>\n","protected":false},"author":1,"featured_media":2541,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[29,81,9,58,82,150,297],"class_list":["post-9325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-auxx","tag-ff","tag-gold","tag-kgc","tag-ske","tag-vau","tag-wg"],"_links":{"self":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/9325","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/comments?post=9325"}],"version-history":[{"count":2,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/9325\/revisions"}],"predecessor-version":[{"id":9327,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/9325\/revisions\/9327"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/media\/2541"}],"wp:attachment":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/media?parent=9325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/categories?post=9325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/tags?post=9325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}