if gold reaches $4,000 per oz

To estimate Talisker Resources' stock price if gold reaches $4,000 per oz, let's consider several key factors like production ramp-up, resource base, and potential profitability. Since Talisker is in early stages and lacks formal studies (PEA/PFS), we'll use rough estimates for production and profitability based on available information.

### Key Assumptions:

1. Future production (2027 target): 100,000 oz per year.

2. Gold price: $4,000 per oz.

3. AISC assumption: For simplicity, let's assume an AISC of $1,200 per oz. Without formal cost guidance, this is speculative but reasonable for a well-established producer.

4. Fully diluted market cap (current): $37 million.

5. No debt, funded for production.

### Step-by-Step Calculation:

1. Revenue at $4,000 gold:

- 100,000 oz * $4,000/oz = $400 million in annual revenue.

2. Cost of production:

- 100,000 oz * $1,200/oz AISC = $120 million in total costs.

3. Pre-tax Profit (EBITDA equivalent):

- $400 million - $120 million = $280 million in pre-tax profit.

4. Estimation of Free Cash Flow (FCF):

- Assuming 70% of pre-tax profit converts to FCF:

- $280 million * 0.7 = $196 million in annual free cash flow.

5. Valuation multiple:

- Let’s assume a conservative 5-8x FCF multiple due to the speculative nature of the company:

- $196 million * 5 = $980 million market cap (low estimate).

- $196 million * 8 = $1.57 billion market cap (high estimate).

6. Current market cap:

- Talisker's current market cap is $37 million.

7. Stock price calculation:

- If the company reaches a market cap between $980 million and $1.57 billion, the stock price would increase proportionally. Assuming no major share dilution, we can estimate the stock price as follows:

- Low estimate: $980 million / $37 million ≈ 26.5x current stock price.

- High estimate: $1.57 billion / $37 million ≈ 42.5x current stock price.

If Talisker’s stock price is, for example, $0.25 today:

- Low estimate: $0.25 * 26.5 = $6.63 per share.

- High estimate: $0.25 * 42.5 = $10.63 per share.

### Conclusion:

If gold reaches $4,000 per ounce and Talisker achieves its production target of 100,000 oz per year with a reasonable AISC, the stock price could potentially rise to $6 to $10 per share based on current estimates. The exact value will depend on their ability to control costs and grow their resource base.