Newmont, RRL's largest shareholder with ~14%, has today announced the acquisition of Fronteer Gold for $2.3b.
A quick glance at Fronteer shows a company of similar scale to RRL, although nowhere near as advanced. Fronteer is probably still at least 3 years from production with a target production rate of ~300,000 oz pa. By contrast RRL is already producing at 100,000 oz pa and by my calculations should reach ~330,000 oz pa annualised production by end 2012. RRL's resource inventory is nearly identical to Fronteer with excellent growth potential.
Based on the Fronteer transaction I reckon RRL is worth $5 per share if it goes into play.
$5/share valuation
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Last
$1.78 |
Change
0.015(0.85%) |
Mkt cap ! $1.340B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.79 | $1.76 | $6.713M | 3.789M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 49622 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 42062 | 4 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| RRL (ASX) Chart |