Yes I think the 'premium' gloss is what is coming back right now. The following chart from the NST pack says it all. It's pretty rarefied air in terms of global producers above that 1.1x NAV multiple (not sure how this would look on an EV basis instead of market cap). It's hard to make an argument that EVN should trade on higher multiples than say Northern Star or Kirkland Lake, both of which are also 100% Tier 1 locations and each have multiple 300kozpa+ type assets.
Arguably EVN is only included in this subset of producers because of past success (and probably because NST is trying to show their relative discount to long time peer). EVN is in the 700-800koz range and most of the other companies are well over 1Moz current production (B2 lowest listed at about 1Moz).
Ann: Acquisition to lift Mungari to Cornerstone Asset, page-84
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Last
$3.95 |
Change
0.030(0.77%) |
Mkt cap ! $7.844B | |||
| Open | High | Low | Value | Volume |
| $3.94 | $4.01 | $3.93 | $23.62M | 5.955M |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 2 | 671 | $3.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.96 | 5000 | 1 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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$3.96 |
Change
0.030 ( 1.25 %) |
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| Open | High | Low | Volume | ||
| $3.94 | $4.01 | $3.93 | 2008744 | ||
| Last updated 15.59pm 02/05/2024 ? | |||||
| EVN (ASX) Chart |