Gold Futures (COMEX:GOLD) - Jun-21 - Quarterly Summary, 55007020, page-7 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by JSS-2107: ↑

Thanks @hcosah - appreciate the feedback.

You are absolutely spot on re. OR / MRE. These two metrics (and the tangents such as LOM, etc.) weigh heavily on these miners' valuations. I do have EV / OR and EV / MRE, but they are quite out of date (see snapshot below). My issue is that I find it difficult to keep up with organisations as they update these (updates seem to be more sporadic (not as neat and predictable as the quarterlies), and more piecemeal (quite common to have an organisation update for a specific asset rather than for the whole portfolio)). Net result, it is quite difficult to keep up to date. This is what I was referring to earlier in the thread re. anyone interested in "signing up" to monitor 1 or 2 organisations' reserve / resource data (and share updates). Was thinking perhaps we can crowdsource it!

I've posted quarterly updates for a little while:
Mar-21 - here
Dec-20 - here
Sep-20 - here

I even tried a weekly digest (example here), but quite quickly realised it wasn't sustainable.

I'm happy to keep doing the updates (quite a few folks on here have helped me in my education re. miners, etc. - and I benefit from the research too). I load everything into a PowerBI model (down to mill volumes, grade, recovery), so can pull a lot of extra details. Data goes back to 2015, and for some companies back further. I am happy to share this with anyone if they want additional info (just not too sure how to do so).

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Hey JSS.
Really impressive work and appreciated.
I think we touched on this in the last quarterly update, but I still feel AIC is also pretty important, in the sense that it provides a more 'pure' metric for just how much free cashflow a company is actually generating, particularly when looked at over the longer term.

For example, WGX, ended up with increasing its net cash position for FY2021 by..... $7m. That is after producing 245k at an AISC of around $1450 AUD. Where did all the profit go.... non-sustaining capex, hedging, exploration etc.

They are not alone, though, they are for me the easiest to point out. It gets even more interesting if you look at say 1,3,5 year periods for AIC, net increase in cashflow etc. That is why the likes of GOR, receive such a high premium compared to many other producers, that have larger production profiles. It's all about the AIC.

Hopefully you can add EMR to your list as of next quarter, as they will likely have achieved commercial production in the near term.

Anyway, wish I could offer more constructive feedback, but, I think after reading through 50+ quarterlies... I am spent!