I also sometimes make the comparison with B2Gold. They have a charismatic CEO who made his followers rich when they sold some gold assets in Russia. We have a more humdrum CEO who lives in Monaco and comes out of the woodworks sometimes at conferences and to open mines.
Here is BTO's latest initial quarterly report/forward statement.
They are now valued at around $2billion on the TSX. Estimated 2014 production is 395-420k ounces at an AISC of USD 1025-1125/ounce.
EVR's 2014 production is expected to be 400-440k ounces at AISC of USD985-1070/ounce.
It is possible that BTO has more gold reserves and resources and more expansion plans - I have not checked that out. I recall their Masbate projects has a lot of ounces albeit around 1.1 grams/tonne.
They have substantial debt, at least $260m via a convertible loan
For now I would accept half of BTO's market cap, say $1 billion which would put a smile on our faces, especially SaberX. A market cap of $2 billion for EDV would set me up nicely, but I am not counting on that in the next 2 years.
loki
EVR Price at posting:
81.0¢ Sentiment: Hold Disclosure: Held
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