Todays dump offers excellent value in my view.
6.812 billion shares on issues less the 412 million from SLR gives a net 6.4 billion shares. At $0.38 I get a market cap of $2.4 billion.
Combined cash & inventories should be around $400 million by the end of the quarter leaving an EV of around $2 billion.
Combined reserves are now 4 million, giving a reserve value of just $500 an ounce when margins are closer to $1500 an ounce.
Add in resources of 12 million ounces plus 4 plants for free.
Question is was today's dump anything to do a material change of ownership at Spartan?
I note the chair SPR Rowan Johnston used to work at Integra before it was taken over by Luke Tonkin at SLR.
Note sure if there is a link, but the today's dump seems very strange in what is an otherwise pretty quiet gold market.
GLTA/IMHO
Todays dump offers excellent value in my view.6.812 billion...
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