CAI Valuation - comparison to peers, page-102

@Load

To add to your peer comparisons - compare to ALK.

CAI - 200M EV
ALK - 300M EV

CAI - Multiple issues, 1.5M resource, 70-80K oz p.a moving to 100K then 130K, med-high AISC, cashflow 4M p.qtr once finance restuctured,+ Blue Spec & Pirra
ALK - No real issues, 2M resource at TGO, SA, Ros, 65-70K oz p.a moving to 100K, low AISC (rising to med), cashflow 15-20M p.qtr, + Boda/Kaiser 15M oz low grade bulk tonnage Au/Cu project

On the face of it ALK seems better value IMHO. So why am I holding more CAI than ALK .. because I'm not selling my CAI down here and I do believe we are on a path to recovery. Havent added any recently, but have added to ALK holdings on the above logic.