Can i suggest you comp to march 2020 low or possibly oct 2022...

Can i suggest you comp to march 2020 low or possibly oct 2022 triple bottom in gold

those are the sector and cyclical lows - so you are almost certainly getting like for like comps without noise from stock specific evens

otherwise its arbitrary. But your ev/oz and ev oz eq calcs are a better guide to implied value/upside etc

bmls a case in point here. Its traded so low only bc it snuffed out the 2nd part of its first uprate wave doing that big issue effectively ~50% below its fair market price of 15.5c when it commenced the cr process. But the upside from that is it has more cash than most peers.

the market has had time now to work through that issuance - and now is looking at a stock with v low EV/oz.

few care when a sector is limp.

But now the next bullwave is confirmed - that high cash (so no short term dilution threat) and cheap relative valuation flip from negatives to positives

so - told well - the story should outperform more expensive names like svl and ivr