Dont be super sure on that. Gold road is great in that it has no debt, but it also has minimal leverage. It is an exploration company with a producing asset to fund itself. The value/upside in GOR is in its investments, exploration tenements not directly levered to the gold price as much as a full producer is.
It generated 140M free cash flow last year at a price of $2950/oz and sales of 161koz. Take recent lows of GOR around the $1.35, strip out the $465M investments and GOR sits at a multiple of 7. Not expensive by any stretch. But assuming (very generous assumption) that costs stay the same as per the Sept QTR at $1959oz for CAIC. (December was a shit show at $2400/oz) and GOR still produces to its current guidance which is much the same as 2023 at 161koz and keeping multiple of 7 (debatable)
$3000 - $167M FCF - $1.59
$3200 - $200M FCF - $1.81
$3300 - $216M FCF - $1.93
$3400 - $232M FCF - $2.04
$3600 - $264M FCF - $2.26
$4000 - $329M FCF - $2.71
The above is fairly conservative and not bad, but the real leverage in GOR is the exploration tenements/investments and chance to find another Gruyere. If you want direct leverage to the gold price id suggest there are better companies to do so. I posted a similar roughie of RRL this morning which has a bit more leverage to gold price.
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Dont be super sure on that. Gold road is great in that it has no...
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Last
$1.56 |
Change
-0.015(0.95%) |
Mkt cap ! $1.690B |
Open | High | Low | Value | Volume |
$1.57 | $1.57 | $1.55 | $4.798M | 3.074M |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 17122 | $1.56 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.57 | 50933 | 4 |
View Market Depth
No. | Vol. | Price($) |
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2 | 11291 | 1.555 |
16 | 72770 | 1.550 |
6 | 140399 | 1.545 |
4 | 18523 | 1.540 |
1 | 6323 | 1.535 |
Price($) | Vol. | No. |
---|---|---|
1.575 | 15504 | 2 |
1.580 | 5504 | 1 |
1.585 | 5636 | 1 |
1.590 | 89636 | 4 |
1.595 | 5636 | 1 |
Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$1.56 |
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Change
-0.015 ( 1.11 %) |
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Open | High | Low | Volume | ||
$1.56 | $1.57 | $1.55 | 903785 | ||
Last updated 15.59pm 14/06/2024 ? |
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