Grabbed some January last year, when I first heard of the company and studied their assets. Have recently added, including some at 45c . Just can't make sense of the current market valuation. Think of it this way, gold is now at US$1,300/oz, $100/oz over this year's budget, which is predicting an AISC margin of $120m, translates to about an extra $50m which will flow directly onto the NPBT line (taking a simplistic view). $50m bonus per year translates to $500m over the reserve life of the mining assets. The market cap of the company is about $240m... now translate all those numbers into AUD... and you have one hell of a bargain!
Currently my number 1 gold holding and more likely to add so my view may be swayed.
Good luck to u2 too Loki... we're on the winner.
EVR Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
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. Just can't make sense of the current market valuation. Think of it this way, gold is now at US$1,300/oz, $100/oz over this year's budget, which is predicting an AISC margin of $120m, translates to about an extra $50m which will flow directly onto the NPBT line (taking a simplistic view). $50m bonus per year translates to $500m over the reserve life of the mining assets. The market cap of the company is about $240m... now translate all those numbers into AUD... and you have one hell of a bargain!
(20min delay)