Athena Gold Corporation

AI-generated fair value estimate for this company.

Method: Net asset value (NAV): H1 2026 total shareholders' equity of $10.81M (cash $1.45M, mineral properties carried at $7.91M cost including the newly-acquired Forester Gold Project, plus other assets, less liabilities) plus a 25% exploration-upside premium on the $7.91M mineral property carrying value (~$1.98M) to reflect recently identified high-confidence drill targets at Excelsior Springs, for an adjusted NAV of $12.79M; divided by 35,866,732 basic shares outstanding.

Reasoning: Athena Gold is a pre-resource exploration-stage miner with no revenue or cash flow, so a DCF is not applicable; NAV built from audited book equity (cash plus mineral property carrying costs) with a modest premium for recent high-confidence exploration targets is the standard valuation approach for early-stage exploration juniors.