RE:EDVMF appears to be a huge sleeperI like to compare Endeavor to B2Gold. I have owned B2 since ,well, a long time. At the moment I am up x13. And I still hold some B2, still believe it is solid and has upside, but now own much more Endeavor.
Comparing the two: B2 has slightly less production (with the merger of EDV and Semafo completed), has lower costs, and has a market cap of $8 billion, today- things are changing fast.
The Bloomberg site shows Endeavor with a market cap of $5.5 Billion and 157 million shares outstanding. Endeavor has previously said that with the issuing of shares to La Mancha for a $100 million in cash, shares outstanding post merger will be 163 million. So it appears we are post merger.
Continuing the comparison: B2 is a cash cow, pays a small dividend, no debt, and a CEO that everyone thinks can walk on water - unproven at this time. EDV is now a cash cow, should be announcing dividend plans soon, should have little debt now, and very little by year end, and good solid proven management - walking on water is a nice trick but staying frimly grounded is good too , and EDV has always been that.
B2 has most of it's eggs, apples , etc. in one big best in the world mine in Mali. EDV has a bunch of smaller mines, all pretty new, all good, over a number of West Africa countries.
And going forward: B2 has only one project in planning, according to all the info they release, and it is a large mine In Columbia that they hold 51% of. Timelines have not been released, and not that much has been said about it recently. EDV looks to have 4 new possible mines close, and not quite as close, to being build ready. They appear to be of the medium size, and they could probably build out all of them over the next 2 or 3 years from cash flow, at present gold price.
B2 could buy something to increase production immediately, or something they could build a mine on, but production looks to be worth at least a billion per 100,000 oz/yr for anything good, so buying production these days isn't going to create much value quickly.
Toronto Dominion Bank recently tagged B2 for a increase to $11 billion market cap. Now, the argument I have been ,trying, to make above is that EDV is worth at least as much as B2 (actually I think more) , and if EDV were to rise to $11 billion market cap the share price would need to be $67 at present share count. (With the same Market Cap as B2 at present EDV would be at about $50.)
EDV production is at present only worth about $500 million per 100,000 oz production from new, long life, cheap mines. With an increase in production possible on already owned sites.
A long time ago I said I would be happy if EDV got to $35. Now I think $50 is quickly on it's way ( increasing gold price will drive that) . And a long ,long time ago I dreamed EDV would hit a $100. I put that dream to rest, so to speak, when things went no where for so long, but lately it is creeping back in to my , maybe not likely, but at least a little bit possible ,fantasies.