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Is this the ASX's cheapest gold developer?, page-158

  1. BobbyKennedy
    7,741 Posts.
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    12/04/19
    09:39
    Post #: 38109676
    The value of the assets on the balance sheet isn't necessarily the real value or replacement value of the assets.

    Another good example of this is TLM. They own the Sinclair nickel mine and plant and it's barely carrying any value on the BS but it's got a replacement value of $120m and IMO a fair value of at least $40m. And they're trading on an EV of $2m.
    EAR Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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