Case study 02 / Mining, dormant gold-uranium mine
A dormant mine the market valued at US$800M. Honeycomb revalued it at US$1.9B.
A dual-commodity mine had been valued on the stale picture from its last run. Honeycomb re-ran the existing drill and engineering data against today's prices and brownfields restart economics, producing a defensible NPV near US$1.9B without new drilling.
What Honeycomb did
Re-priced the existing data
The mine's own drill and engineering data was run against current gold and uranium prices, both materially above the levels when the asset last operated.
Costed the brownfields restart
Existing shafts, plant, and tailings reduced the restart bill to roughly US$180M, against about US$450M for a greenfield equivalent.
Built it to raise on
The output was an investor-grade revaluation the owner could take into a financing round in days rather than waiting months for a consultant study.
The shift
Re-priced at current gold and uranium prices
Before: Valued on prices from its last run
Costed as a brownfields restart at a fraction of the cost
Before: Treated as a greenfield-scale rebuild
A fully costed NPV near US$1.9B
Before: Dormant and overlooked
Outcome
An asset the market had written down to US$800M was repriced to US$1.9B, and the owner took the revaluation into a raise.
An anonymised example of work done with Honeycomb. Figures describe this case and are not a general performance guarantee.
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