RE:RE:Gold is up heading north Just looked at their presentation, BTO does have a low cost of production for one of their mines (Mali) but all in cost is $555-595. AXM's all in cost is sub $500, and that was based on George Roach's old numbers. Speaking with Axmin management about costs over the past couple years, they should be able to make it work sub $400 because the Chinese are efficient in that manner.
Then what's this about the mine sitting? Do you have any background about CAR? The country was in civil war from 2012 to 2019, how could they produce? It's only recent that a vast majority of the country is secured now, with the exception of a town up North (Ndele).
Not sure why you're pumping BTO here, 1+ billion shares so it's a diluted pig and they got 6.5 million ounces proven at a $6.80 price.
AXM has 143 mil shares with 2 million ounces just in CAR, trades at 1% of the NAV based on today's numbers, not even adding value for Senegal which you clearly know it's a very active area because TGZ/BTO/IMG and several others literally have mines right now all around AXM. Axmin still has 338km2 of land that they own 20% of there and 16 royalty targets.
So the upside on BTO could be $20, which would be a little over a triple right now. AXM at 20 cents has upside of $7+. This would be assuming full value for both plays, but what's better? A triple over a few years or a 20 bagger? Not rocket science here. Plus if you compare balance sheets, BTO has $250 mil in bank debt and only $140 mil in cash, always scary when debt exceeds cash.
Lets see year end results coming up in a couple weeks. Remember, the Chinese already bought two Canadian gold producers over the last couple years and this is one of the few known that has chinese connections still, making it an ideal takeout candidate.