Last time I had a woody for a gold stock like this was RMS
Even with the hedge considered I think MOY will make a healthy margin of $358/oz this year.
80k oz with margins of $300 an oz = 24 mill on a market cap of 36m shows how just dumb the current price is.
Inputs are skewed towards the conservative side of guidance:
If future production comes in higher than 83000 the valuation increases (median estimate of roughly 80500 oz)
If AISC comes in below 1200/oz the valuation increases (median estimate of roughly 1240/oz)
Gold price assumptions might seem bearish but I the AUD Gold correlation is fairly strong (an increase in XAU/USD will likely mean an increase in the AUD/USD exchange rate - offsetting each other)
