Fundamentals haven't changed, page-724

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EnsorDoone

831 Posts.

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20/06/19

23:35

Post #: 39164233
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Originally posted by eshmun: ↑

NST

SOI = 639,592,634

MC at $11.69 = A$7.477 billion

With $288 million in cash and liquid assets at the end of the March quarter the company has an

EV = A$7.188 billion

The company has JORC2012 compliant ore reserves = 3.988Moz

Giving it an EV/ reserve oz = A$1,802/oz

Current gold price =A$1,997/oz

The value of instantly liquid refined gold bullion for sale now, sitting in vaults above the ground, is currently only $195/oz more than the value of NST's in ground JORC2012 compliant ore reserves which at the company's forecast production rate will take 4 years to mine, process and come to have the same liquidity and risk profile as the bullion sitting above the ground.

This is the most insane valuation of a gold company I have ever come across.

For those saying the share price will soon reach $15 or $20 you might want to think about what this means. At a share price of $15 NST's JORC2102 compliant in ground reserves will be valued at A$2,333/oz, or $336/oz more than the current gold price. At a share price of $20 the reserves in the ground will have a value of A$3,135/oz or A$1,137/oz more than the current gold price.

This is a sign that the US market is about to top out and crash IMO when sensible people are able to justify such stupid valuations and the irony is that in theory you enter gold and gold stocks to be contrarian and to try and protect yourself from stock market bubbles. NST is a colossal irrational bubble that just keeps inflating because US fund managers just don't care about "other people's money" and IMO a lot of unknowing pension funds are being set up for the fall by the criminal banksters. You've only got to look at what happened to Newcrest's share price during and after the GFC, $40 down to $20, then back to $40 then down to about $7. Banksters had a field day.Esh

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Thanks for that Esh.

Could you put up the same argument for Kirkland Lake over on the KLA post ?

At $60.70 KLA shares are getting mighty pricey.

CommSec gives KLA shares a zero Margin Loan Lending Value.

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E D

NST Price at posting: $11.69 Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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Last $15.99		Change -0.240(1.48%)		Mkt cap ! $18.65B

Open	High	Low	Value	Volume
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