Is GCY still cheap???
Net tangible Assets sitting at a combined $114,691,000 as of June 30th
This is a Book Value Per Share of $0.31
GCY currently trading below discounted book value of assets.
Looks very cheap still to me\
Current Market Cap $112,850,000
Current Net Cash$15,900,000
Current EV $96,950,000
Cash As of June FY21 $23,448,000
FY22 Cash Generation (mid)75,000oz * ($2500 - AIC$2100)
75,000oz * Margin $400
Cash generation FY22 = $30,000,000
FY23 Cash Generation (mid) 90,000oz ($2500 - AIC $1750)
90,000oz * Margin $750
Cash generation FY23 = $67,500,000
Cash Balance by July 2023 = $23,448,000 + $30,000,000 + $67,500,000 = $120,948,000
GCY estimated to generate more cashflow than it's current EV over next 2 years.
GCY valuation per oz mineral resource and reserves compared to nearest comparable market cap company with similar EV BCN
GCY EV $96,950,000
Mineral Resource 1,186,000oz = $80 per ounce
Mineral Reserve 339,000oz = $285 per ounce
BCN EV $99,800,000
Mineral resource 332,000oz = $300 per ounce
Mineral Reserve 173,000 = $575 per ounce
Cheap on all metrics, page-66
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