RE:For comparison in 2018 ELD in about the same position as CXB
On the share count here is what I come up with:
13 Nov. '23 Placement 66,666,667 14.2 % of MOZ shares
Total MOZ shares 469,484,570 66,666,667/0.142
Converson on closing x 0.6164
total 289,389,672
Total CXB shares 337,710,000
Merged shares 627,099,772
Note: CXB is currently doing a NCIB so its share count may fall.
For 2023 Calibre delivered 283,494,000 ounces. After merger Calibre guidance is 275,000 to 300,000 for 2024.
With the Marathon mine up and running guidance for approximately an annual production of 500,000 ounces.
For comparison, total Eldorado shares is 283,494,000 trading at $16.92/share. Eldorado is forcasting production of 535,000 ounces this year and 610,000 ounces in 2025.
Eldorado share count is 32.4% of CXB after merger.
$16.92 x 32.4% = $ 5.58
ELD's last reported profit margin was 44.71% and CXB was 16.92%
Cutting the $5.58 in half gives a conservative estimate share value of $2.79.