EV sub $15m with $15m in the bank
You are right about a differing view on EV.
Economic Value is what the business is worth after its cash in hand.The share price is something completely different.
So $15m in the bank and a mine with $7.5m invested to date and 200-400k oz is worth nothing even as its nearly mining is worth less than what the company is worth now?
I call $15m in the bank as de-risked income.Cashed
If that makes a negative EV then I will be buying.
Best of luck with your investing.
Ann: NWR Perth Presentation, page-54
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