Boom in a Room Interview DR, page-41

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TheRabbit

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08/11/21

19:15

Post #: 57406590
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Originally posted by dbd25: ↑

It's been suggested many time on here that CMM is probably the gold mine that is closest in size in most respects to CAI.
Here's a quick comparison :

CMM
• 1.2 million ounce reserve and 2.1 million ounce resource
• Expected LOM production run rate of 110,000 – 125,000 ounces per annum
• Targeting lowest quartile AISC’s
• 10+ year project life on current reserves with excellent potential for mine life extensions

CAI
0.547 million ounce reserve and 1.714 million ounce resource
Stage 1 - DFS production of 90,000oz pa – 105,000oz pa at LOM AISC $1,290/oz - initial 8-year mine life
Stage 2 - Increased production to 130,000 oz pa through Blue Spec integration

It appears to me that annual gold production will be near identical, CAI currently has 8 year LOM, but this could easily rise to 10+ years (same as CMM) based on additional deposits being mined.

CMM currently has an MC of ~$1 billion following first gold pour in July, CAI currently has an MC of ~$250m.
If CAI meets expected targets, I see no reason why its MC should be much different to CMM.
This would suggest an SP of $2.46, at 5 months after its first gold pour (so around Nov 2022 ?)

All IMHO, DYOR

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That’s a big call, I’m not sure they will match CMM within a year, they have a great management team also, but lets all hope so, definitely a side by side resource.
One of my other Goldies WMC are very very similar looking to CMM, looking to produce 250,000 oz pa going forward, good value atm.

CAI Price at posting: 61.5¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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