Comparison: Reunion v SkeenaI've got no bone to pick with RGD. From a standing start 23 months ago they have drilled 107,000 meters and proven up about 4.2 million ounces - about 2.5 indicated and 1.7 inferred. Grades are 1.84 and 2.02 g/t respectively. BUT.....
Fully diluted, Reunion has 1.2 Billion shares outstanding vs Skeena at 95 million. RGD had $33 mm cash a/o Q1 and let's say SKE has about $70. I will use $30 and $65.
Reunion @ 45 cents is market valued at $540 million minus $30 cash for a mkt. cap of $510 million.
Skeena at $6.05 is valued at $575 million minus $65 cash for a mkt cap of $510 million.
This is insane.