I was using yesterday's PoG of A$3075 The numbers I am using are a bit different -
Enterprise value
A Market Cap $1,721m B Cash $133,6M C Debt $91.9M D EV: A-B+C= $1,679..54M
Margin:
E Mid-point production guidance: 120,000 oz F AISC mid-point guidance: $1,210/oz G Spot Gold price: $3,075/oz H Hedges 107,000 ozs (to be repaid over next 6 months) I Hedge Price $2,327/ozs
The difference comes from accounting for gold that goes into re-paying their hedges. - I need to check whether the hedges are current but is what I took from a quarterly but your figure may be more current.
I have to agree with you over the role of management and numerous other factors particularly the sovereign risk in West Africa. I guess my argument over CMM was that they are expensive and that the "management" factor is only worth so much. As i also said I have not taken Mt Gibson into the comparison but that is now getting into the commissioning phase which as we both know is the most dangerous period for a miner
RRL Price at posting:
$1.93 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)