Looking at LCL in comparison to Sol Gold in Ecuador I've done a little comparison of implied value as a % of Au in Resource versus market cap value
Assumptions are Sol Gold have 19.4M oz Au. Assume Au price in A$ of 2300 gives $44.6B worth of Au for Sol Gold who have a Market Cap of $US 545M or A$778.5M. The % of Au per Market Cap is 1.74%.
Assume LCL have 1M oz Au from Quinchia Gold Portfolio at this stage for ease, JORC resource of 0.84kt oz is already reported.
With Todays closing price of 5.6c/share and 310,727,754 shares on issue undiluted this equates to 0.76% Au value per market cap. Nearly another percentage improvement in price is necessary to be on par with SOL. To get to a similar value LCL price would need to be 13c/share.. Is the over 50% discount disparity justifiable? I agree a discount is needed on size and stage of project development but LCL does have a FS from the MNC days and needs tonnes for the mill to create a significant life project at Quinchia offset by the lower Au price assumed in that study.
Target pricing on this fundamental alone should be north of 7.5c/share as a minimum and around 0.10 as a realistic target.
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Looking at LCL in comparison to Sol Gold in Ecuador I've done a...
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0.9¢ |
Change
0.001(6.25%) |
Mkt cap ! $8.201M |
Open | High | Low | Value | Volume |
0.9¢ | 0.9¢ | 0.9¢ | $685 | 76.66K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 682972 | 0.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.9¢ | 1362208 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 682972 | 0.008 |
7 | 7517560 | 0.007 |
9 | 5580000 | 0.006 |
9 | 4341080 | 0.005 |
5 | 5878763 | 0.004 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 1362208 | 4 |
0.010 | 4181762 | 5 |
0.011 | 1459999 | 3 |
0.012 | 737500 | 2 |
0.013 | 83333 | 1 |
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