What is that miner worth at $5,000 gold?
Free-cash-flow maths on gold and silver miners at the metal prices that matter. What each company promised, what it delivered, and what it could be worth, with every number traced to the filing it came from.
Founding members get first access and a lower price, locked in. No spam.
Three pages, one set of numbers
Every company gets the same treatment, so you can compare a Colombian gold producer with a Moroccan silver miner on equal terms.
The Upside Explorer
Pick a metal price and a growth stage. See production, AISC per ounce, free cash flow and the implied share price, with the workings laid out line by line.
Every number, sourced
Hundreds of facts per company, each tagged to its filing and page, and marked verified, company-stated, derived or in conflict.
The whole story on one page
Bible Score, key numbers, bear, base and bull cases, and what could break the thesis. Built to read in 30 seconds.
| Fact | Value | Status | Source |
|---|---|---|---|
| Q2 2026 cash cost | US$17.69/oz Ag | VERIFIED | MD&A p6 |
| Boumadine NPV5% (US$50 Ag) | US$3.5B | COMPANY-STATED | PEA 2026 · s.22 |
| EV per M&I ounce | US$19.6/oz AgEq | DERIVED | MSB calc |
| 2025 cash cost vs guidance | US$20.41 vs US$15–17.50 | MISSED | MD&A · 2025 guidance PR |
Promised versus delivered
Miners guide high and explain later. We keep score, and model from what a company actually delivers.
The library so far
- Aris Mining TSX · NYSE · Score 80
- Greatland Resources ASX · AIM · Score 82
- Aya Gold & Silver TSX · Nasdaq · Score 77
- First Majestic Silver Silver
- Pan American Silver Silver
- Vizsla Silver Silver · developer
- Endeavour Silver Silver
- Luca Mining Gold · silver
- B2Gold · Endeavour Mining · Snowline Gold
Get in before launch
- First access to every company page as it goes live
- A founding-member price, locked in for as long as you stay
- A say in which miners get covered next
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