Following the announcements of additional discoveries by Founders Metals (“FDR”) at the Da Vinci and Van Gogh targets at the company’s 20,000ha Antino project in Suriname, we have updated our assumptions about the potential scale of the project from 6.7Moz to 7.5Moz. This drives up our blended valuation from C$7.00/share to C$7.60/share implying 45% upside to the current share price. With a fully funded exploration programme for 2025 which includes >60,000m of drilling, airborne geophysics, and ....
