Quinchía Gold Project PEA: $534M NPV
Tiger Gold Corp.'s Quinchía Gold Project in Department of Risaralda, Colombia has a Preliminary Economic Assessment (PEA) outlining a pre-tax NPV of $534M.
Tiger Gold Corp.'s Quinchía Gold Project has reported Preliminary Economic Assessment (PEA) results for the gold project in Department of Risaralda, Colombia. The study headlines a pre-tax net present value of $534M. It reflects Tiger Gold Corp.'s (TIGR.V) latest disclosed economics for the asset.
Economics. The pre-tax NPV is $534M. Economics are based on Base case gold price US$2,650/oz Au (with sensitivity to US$3,700/oz Au); silver fixed at US$29.51/oz Ag.
Resources and ownership. The company holds a 100% interest in the project.
These figures are extracted from Tiger Gold Corp.'s technical disclosures and reflect the most recent PEA on file. Compare this project against other developers and producers in our project economics database, and always verify the numbers against the original technical report before making any investment decision.
Reserves & Resources
| Category | Tonnage | Grade | Contained |
|---|---|---|---|
| Indicated | 6.1 Mt | 2.62 g/t Au | 510,000 Oz Au |
| Inferred | 104 Mt | 0.47 g/t Au | 1.57 Moz Au |
| Inferred | 20.2 Mt | 0.71 g/t Au | 459,000 oz Au |
Our Analysis
- IRR pre-tax
- 21.3%
higher than 10% of 119 projects we track
- NPV pre-tax
- $534M
higher than 53% of 169 projects we track
- Initial capex
- $480M
90% of NPV
costlier than 75% of 158 projects we track
- Payback
- 3.8yrs
slower than 90% of 101 projects we track
- Discount rate
- 5%
- Study price assumption
- Base case gold price US$2,650/oz Au (with sensitivity to US$3,700/oz Au); silver fixed at US$29.51/oz Ag
- Spot gold today
- $4,317.30/oz
A US$480M build against a US$60M market capitalisation is the whole story here. The company is proposing to spend roughly 8.1 times its entire equity value on a single development, and that ratio, not the headline return, determines who ends up owning this asset. A micro-cap cannot write that cheque from its own balance sheet. The realistic paths are a partner or offtake-backed joint venture, a streaming or royalty package, a project-level debt facility with a sponsor behind it, or an equity raise so large it hands control to new money. Each of those transfers value away from current holders, and at this scale the dilution would not be marginal. This is one of three projects we track for the company, so there is no larger cash-generating business to lean on.
The economics support the build only in a qualified way. Pre-tax NPV of US$534M ranks above the median of the 169 gold projects we track, but the pre-tax IRR of 21.3% sits in the bottom decile of 119 peers, and payback of 3.8 years is slower than all but a handful of the 101 projects we track on that measure. Against the practical hurdle, a higher-risk junior with little else in the portfolio needs something north of 20% after-tax to attract project finance, and this is a pre-tax number from a scoping-level PEA, where the capital estimate carries a plus or minus 50% band. Initial capex is unchanged from the 2025 PEA, which tells you the scope has not moved, not that it is firm.
The study assumes US$2,650/oz gold against a live spot of US$4,317.30/oz, so the returns are not stretched on price, and the sensitivity case at US$3,700/oz is still below where the metal trades. Risaralda, Colombia is a jurisdiction where permitting and community consent carry real weight. The question that decides this project is not the IRR: it is who funds US$480M, and how much of the company existing shareholders still own afterwards.
Our take, benchmarked against the project economics in the Mining Stocks database. Figures are estimates drawn from company technical reports — not investment advice; always verify against the source filing.
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