Hi Coto thank you for starting this conversation.
I've been putting together some data which may help this discussion. It is a WIP and I'm still checking data for accuracy, but it will good enough for discussion. I've put down some near-term producers I have in my datafiles.
I like understanding Fundamentals and below is an extract of some of my relevant data. It is based upon FY25 Estimates.
I like EV/Oz Sold & EV/Resource Oz's as comparison measures. As you can see HRZ has an EV/Sold based upon 55kozpa Production. This would be $1,350 if $100kozpa was produced. Compare that to CYL and you have a potential upside in SP of 8x. HRZ's EV/Resource oz is also low at $75.
There are a lot of other factors that can impact SP but based upon these measures there is a lot of upside potential for HRZ.
Thess measures also indicate that Barton Gold is maybe good value. Even Black Cat still seems to have upside potential left.
Cheers
(20min delay)