RE:RE:RE:RE:RE:RE:RE:RE:RE:Mark to Market Loss on 2024 Warrants i would not be so sure about that. the copper price is down from previous year. the last 2 quarters aty had ev/fcf of infinity. q3 they had negative fcf, they only increased cash by drawing down a loan. q3 was explained by a delay in shipment. so going back to q2 they had a large negative fcf, and that was explained by a strike. q1 had positive fcf but they spent little on mine investment. you can't say aty has a better ev/fcf when it has not happened yet if ever. and what happens when they start building their ecuador mine, how much fcf will they have then? gcm spun off marmato so any cash use or debt is on caldas and goldx books, not gcm.
by the way, when you cut down gcm's $0.33 earnings per share by a half from full dilution (besides the fact that half is still a lot better than other miners eps, and no company fully dilutes), that is misleading. the dollar amount of earnings and fcf does not change.
the p/e ratio would increase because the p uses market cap which increases with dilution. p/e is not a good measure when a company has a lot of cash or debt.
ev/e ratio is a better measure because enterprise value takes into account cash and debt.
even after dilution, gcm's ev/e ratio remains almost the same at a low 4 because gcm dilution increases cash by a large amount which decreases ev.
Barkis wrote: Top of the morning to you Invest.
I wasn;t going to mention ATY - it just came to mind with your late night challenge on GCM's future EV/FCF number. I rarely step away from a challenge -one of my weak points.
Like I said it's on a smaller scale with different risks and can't really be compared to GCM
which is all Gold and has Spock backing and financing in place for the future.
I will post on ATY board in the future if I get a chance to avoid spamming this site. Not fair to other's here I agree.
Have a good one.