leverage through exploration and pog, page-63

KGL is very strongly undervalued based on their FS on Andash but the approval to proceed keeps dragging out and country risk is significant (Kyrgyzstan). Upside is very large if they get the approval. A small mine starting next month in the Murchison (Aust) with staged expansions is enough to give reasonable to good upside from the current price without Andash. The Murchison project is low margin to start with but becomes much more attractive through the staged expansions which will be able to be funded with cash on hand and cash flow. Very low liquidity right now though.
My preferred producer is SLR because of track record, excellent management, low price vs valuation, low country risk and good exploration potential.
PRU is a good one for trading and has very good reserves/resources. Plenty of upside through the Ivory coast production adding to Ghana but I'm not comfortable with the political risk which is why I only trade that one short term.
ABU is my preferred long term holding overall because of the strong discount of price to valuation on just the current jorc at OP (around 8c value according to my numbers and now the scoping study) with further strong upside through exploration at OP. Potential target 12-16c on a 50-100% increase in mineable resources if similar depths and grades. The scoping study outcome is very low risk to be achieved IMO (offering min 100% gain from here) and my estimate of exploration upside seems very reasonable to me.

If that isn't enough upside Buccaneer's 2.6 mill oz resource gives very strong (further) upside leverage to those of us that believe in a higher long term gold price.

The final but not least important positive is low country risk.