"He reckons we are undervalued by dollars per ounce by 2-3x compared to OAU for instance"
He is correct but fails to take into account the quality of those ounces .
I hold both GBR and OAU , but more OAU
The OAU ore bodies are arguably superior in both grade and overall intercept , just like GBRs new Iron Bark deposit high grade core is highlighted by GBR as incrementally higher grade than its Mulga Bill deposit and you can infer would entail a premium in a sale on a per ounce basis .
The other factor is the new MD of OAU seems more proactive in monetising his insitu gold than GBR ,
Both GBR and OAU have quality resources , compared to many companies that have ounces that will never be mined , but for a GEO to make a comment GBR is undervalued compared to OAU on an ounce basis without taking into account quality of the ounces makes me question what should be GBRs aim in increasing the share price .
Should not that be by turning current ounces into profit rather than just continuing to explore for -- more ounces ?
GBR Price at posting:
6.0¢ Sentiment: None Disclosure: Held
