VALUATION
LNY has total JORC compliant resources of approximately 400koz and these are currently trading at about half the industry average on both an in-situ valuation of total resource on an EV/oz basis and an in-situ valuation of the resources in the Measured and Indicated categories on an EV/oz basis. We also believe that the prospect of material cash flows with a minimal capital outlay in the near term places LNY in a group of peers such as Southern Gold (SAU) which is actively mining the Canon deposit with its development partner Metals X (MLX) and processing the ore at MLX’s South Kalgoorlie Operations.
The material amount of news flow next quarter from the Southern Coromandel Project and Agate Creek will be significant value drivers for LNY. This with the prospect of near term cash flows from production to fund wider exploration indicates that LNY is undervalued at current price levels. Accordingly, we are initiating coverage on LNY with a Speculative Buy recommendation and a 12 month price target of $0.011/share.
http://www.lanewayresources.com.au/irm/PDF/1006/LNYInitiation
VALUATION LNY has total JORC compliant resources of...
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1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.340M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 72888 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.7¢ | 18000 | 1 |
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