I thought it appropriate to revisit this thread, not for any narcissistic reasons but because I think a lot has happened and been de-risked since it was published back in September last year.
1. The Plutonic/Marymia consolidation has gone well, the new combined operations and financials have clearly been cleaned up and the anticipated production increases have occured as planned.
2. Henty AISC appears to be under control and the infrastructure investments that were made last year appear to be paying off.
3. Current Gold/FX continues to be in a lucrative place for CYL
4. I fully expect the next published financials to show a significant cash gain, de-risking any fears of any operational cashflow squeeze or similar cash related issues.
And sure, at the time of this thread starting, the share price was 48c so it could be argued that a re-rate has already occured. However, we currently sit at a $254m MC which I would think only covers the replacement value of the company infrastructure alone. What about the enterprise value, actual and proven gold, tenements (which also have significant value - people forget that!) as well as any sector multiples.
I'm still thinking we should be 3x from where we currently sit FFS......!
CYL Price at posting:
$1.15 Sentiment: Buy Disclosure: Held
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