COD.ax - not a bad one to compare MAG to, although they're...

COD.ax - not a bad one to compare MAG to, although they're chasing IOCG and MAG is chasing porphyry (if we exclude MAG's super high-grade stuff at Bodangora, and shallow orogenic gold at the Parkes project).


MAG:
Current EV: $20M


COD:
Current EV: $100M (5 times the valuation of MAG) - recently hit as high as $150M market cap.


COD's drill result:
24m @ 2.2% Cu, 0.3 g/t Au, 8.9g/t Ag, from 815m

--> 24m @ 3.94g/t AuEq, from 815m

--> 94 gram-meters, from 851m




MAG:

Kingswood:
382m @ 0.20% Cu, from 150m, to EOH

--> 382m @ 0.32g/t AuEq

--> 122 gram-meters, from 150m, to EOH


70m @ 0.54% Cu, 0.15g/t Au, from 141m

--> 70m @ 1.01g/t AuEq

--> 71 gram-meters, from 141m





Rose Hill:
71m @ 0.43% Cu, 0.30g/t Au, 57ppm Mo, from surface

--> 71m @ 1.03g/t Au

--> 73 gram-meters, from surface



MAG's "non-discovery" gram-meter results so far, are equivalent/better than COD's but more importantly MAG's results are from surface and ~150m depth, while COD's are from nearly a kilometre depth (851m depth).


And COD is currently valued at 5 times MAG's valuation- MAG won't stay here forever.


Cheers,

GB.