TBR 5.26% $5.00 tribune resources limited

Ann: Annual Report, page-10

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  1. 3,855 Posts.
    lightbulb Created with Sketch. 1115
    Without taking acount of worzel's comments, then I get:
    Cash & equivalents pus gold & silver inventories = $183.9M
    Debt = $7.6M (from June Quarterly)
    EV = $189M
    EV to Production = $1845/oz
    EV to Reserves = $611/oz
    EV to Resources = $72.8/oz
    EV to Gross Operating Earnings = 1.3
    EPS = 88.89cPE = 7.8
    Net Cash-Debt/Share = 336c (48.3% of SP)

    However, I note that the gold inventory is stated at cost and not at market value and so we can expect a lower EV if we use market value. I have not tried to determine the difference between cost of gold inventory and current market value. The figures as given show TBR to be such a good buy that I am relaxed about that.
 
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