I appreciate your considered opinion nordesmic and will look at the valuation method that you indicate. Please note, however, that I have included DFS capital expenditure as part of the EV as if it is debt but less the amount to be raised from the placement. I have included the estimated AISC as part of earnings ratios but did not refer to these in my post. In my overall assessment of a company, I do include these as significant. Whether to compare with other companies on a near term basis or an extended basis is a question that is impacted by investor strategy and I admit to inconsistency on this aspect by using an average production rate from the DFS. I note that RED is subject to a DFS for KOTH just as much as GPR. As I recall, without checking the reports, the IRRs were reasonably similar. Exploration upside is a very subjective aspect based on limited information and for a comparative analysis would need to be assessed for the comparative companies as well.
GPR Price at posting:
44.0¢ Sentiment: None Disclosure: Not Held
