I'd like you to show me the valuation of IGR's projected cashflows which show it is worth $5 and not 70 cents.
They are forecasting annual producing of 90,000oz p.a.
Has management given any guidance on how this might increase year on year? I haven't seen any.
Next year Silverlake is forecasting 175,000 p.a and aims to increase this to 225,000 the year after.
Silverlake has a $413m market cap and IGR $548m. In other words IGR is 33% higher
Even if IGR's costs are lower, its ultimately production at current high POG that drives market value.
I am not a Broker, but before you start ramping that IGR is worth $5, explaing to me how you get there when the current price values the company at $548m and current production is only 90,000 oz p.a ?
I have nothing against IGR and think its a good stock, but I think it would be risky buying at the current price- thats all.
IGR Price at posting:
72.0¢ Sentiment: Hold Disclosure: Not Held
