I am ready to buy in again at 42c. I will have to buy on market after selling out at 52c but the analysis starts looking decent with such a large issue at 42c. Ignoring placement costs, I get the following figures based on the cash on hand stated on 18/11/20, the updated FS, the CR, and A$100M debt from Sprott.
EV = $174M
EV to Production = $2307/oz (with annual production at 73.4 Koz)
EV to Reserves = $168/oz
EV to Resources = $110.5/oz
EV to Gross Operating Earnings = 2.0 (with an AISC of $1239.oz
I have placed my buy at 40c to take advantage of any weakness in market but can always adjust later, if necessary.
My sentiment is None since I will only buy at or near the issue price and the company is not being traded at present.
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