Here is a short comparison of up and comer gold explorer, possible producer Magnetic Mining based around Laverton W.A. versus our company Gateway Mining based near Sandstone W.A.
It amazes me the low market cap of Gateway. Perhaps there is something I am missing. Happy to see what other HC posters think.
Magnetic Resources
Market Cap: $221.4m as at 18th Jan'24
Resource:
Indicated 584,430 oz @ 1.74g/tonne
Inferred 651,360 oz @ 1.69g/tonne
Valuation approx $180/oz
Gateway Mining
Market Cap: $7.5m as at 18th Jan'24
Resource:
Indicated & Inferred 526,000 oz @ 1.6g/tonne
(excludes new Duplex discovery)
Valuation: $14.30/oz
This seems a huge difference in valuation metrics although I recognise that the Magnetic resource is twice as large as Gateway's.
What do Kerry Harmanis and Peter Langworthy see in Gateway that other investors do not see or ignore?
Cheers.......D
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