Hi everyone, I know it is hard to compare precisely because every company has its own total resource base, number of producing mines and production output, gold price and profit margins at the time, strength of management teams, geopolitical locations etc. However, I am just comparing from a basic viewpoint of entering production in recent years in this ever-increasing bullish gold price environment. If anyone wants to add to the metrics and numbers, by all means go for it..
I have listed below peers and their current market caps with 3-year charts and date they commenced gold production. Most of them commenced gold production sometime in the past 2 years and I have compared the share price strengths since this initial production news to the current share price as of 29/03/2025. This is a valuable tool in seeing the chart trends in that period since the production commenced during the acceleration of the gold boom. Note: I have kept everything consistent and used the 3-year charts, if you want to look further back, it is up to you. Also, feel free to add your own comparisons. I have likely missed a few other mid-tier gold producers who commenced in recent years. I just didn't have the time to do further research.
The below data makes the future upside of HRZ absolutely enormous IMO. Seeing the returns of these companies since they first announced gold production is mind blowing. Even more impressive for the future of HRZ given that we are lucky enough to have much higher returns because the gold price has exploded in recent months. As you can see in the charts, the biggest gains have been in the past 6-12 months.
Auric Mining Limited (ASX: AWJ) - Current Market Cap: $40.96M.
First Gold Production News - Toll milling commenced at Jeffreys Find: 20-Jul-2023.
Share Price at time of First Production News: 4c
Share Price now: 28c
Return: 7x
Black Cat Limited (ASX: BC8) - Current Market Cap: $629.4M.
First Gold Production News - Production commenced at Kal East: 20-Jun-2024.
Share Price at time of First Production News: 26c
Share Price now: 94c
Return: Approx. 4x
Catalyst Mining Limited (ASX: CYL) - Current Market Cap: $1.24B.
First Gold Production News - Production commenced at Henty: 31-Jan-2021.
Share Price at time of First Production News: $1.89
Share Price now: $5.51
Return: Approx. 3x
Emerald Resources NL (ASX: EMR) - Market Cap: $2.51B.
First Gold Production News - Maiden Gold Pour at Okvau: 24-Jun-2021.
Share Price at time of First Production News: 88c
Share Price now: $3.82
Return: Approx. 4x
Ora Banda Mining Limited (ASX: OBM) - Market Cap: $2.12B.
First Gold Production News - Riverina Underground commenced: 09-May-2023.
Share Price at time of First Production News: 13c
Share Price now: $1.13
Return: Approx. 9x
Vertex Minerals Limited (ASX: VTX) - Market Cap: $52.58M.
First Gold Production News - Ore Sorting at Reward: 25-Jul-2024.
Share Price at time of First Production News: 7c
Share Price now: 28c
Return: 4x
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