how about a miner with a forward EV of less than 1 year's profit (not just earnings).
Troy Resources (TRY) - $approx $105 million market cap with $60+ million in the bank, i.e. $45 million value attributed to their Andorinhas project in Brazil. Before you question Brazil as a 'safe' country, Troy have previously operated the Sertao mine in Brazil for a number of years and also various mines in Sandstone, Western Australia - TRY is a proven low cost producer.
Expected production is 50,000 oz gold at a cash cost of approx US$350/oz ($25m profit per year). Troy have also done pre-feas on direct shipping grad iron ore contained in the lease which supports a 0.5 mtpa operation requiring only $5m in capex (another $25m profit per year).
Again, not saying that MLX is not excellent value, but its not alone in being severely undervalued at the moment, the sell-off in resource stocks has been across the board regardless of the quality of the stock.
MLX Price at posting:
25.0¢ Sentiment: None Disclosure: Not Held
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