Post by
templetooth2 on Mar 30, 2023 3:32pm
Solaris in comparison to Filo
Saw a small snippet on Filo on the ceo.ca board and thought I'd follow up.
Filo (123 million shares X $22.50) has a market cap of $2.76 Billion (Cdn.)
Solaris (156 mm shares X $6.50) has a market cap of $1 Billion
Solaris has an advertized resource of somewhat over 13 Billion pounds of CuEq.
Filo has 4.5 Billion pounds Cu Indic. & Infer. and 4.6 million oz Au. If 1 oz Au is equivalent of 500 lb Cu then one should add 2.3 Billion lbs to get 6.8 Billion lbs of CuEq. for Filo.
In other words, the company with about half the resources is 2.7 X more expensive. Interesting, no?
Note: this rather simplistic comparison ignores Filo's silver about 150 million ounces. On the other hand, the SLS numbers are recoverable numbers whereas for Filo the CuEq is gross. Lots of other differences that bulls and bears could point to, but I don't think anyone would argue with the idea that Solaris looks absurdly undervalued.