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Maverix Metals Inc. V.MMX


Primary Symbol: T.MMX

Maverix Metals Inc is a precious metals royalty and streaming company. It offers a mining-related investment that provides exposure to metal price appreciation, and exploration and expansion potential, but without the risks associated with ongoing capital costs, operating costs, and environmental liabilities. The company holds interests in various properties such as La Colorada, San Jose, Mt. Carlton, Vivien, Beta Hunt, Silvertrip, Florida Canyon, Moose River, Shalipayco, Romero, Omolon, and others. The firm's business presence can be across the region of the Americas and Australia, as well as Mexico and Canada.


TSX:MMX - Post by User

Bullboard Posts
Post by ceossson Dec 06, 2016 8:58am
149 Views
Post# 25558876

Numbers

NumbersThere is a presentation on the Goldfields acquisition on the website. 


https://maverixmetals.com/wp-content/uploads/2016/06/Project-Cheetah-Transaction-Presentation-v8.pdf

I don't see a NAV of the new assets in the presentation and there is nothing except a reference to "doubling" the size of the royalty portfolio.  So let's assume a few things:

NAV before was $55MM in royalties and $5MM in cash.  
If we assume the new royalties are $55MM and take the new cash, we now have $110MM in royalties and $15mm in cash.

That makes the new NAV about $125MM.  It will be slightly lower because gold is way down but for argument sake let's say that is the number. 

There are 132MM shares outstanding.

That should make NAV about $0.95/share.

We don't have any cash flow numbers but I believe that the PI report said $7mm -$8mm/year in 2018.  If we double that, we can guess at $15mm cash flow in 2018.  

So at $1.25/share we are at about 1.3x NAV with a market cap of 165MM which is about 11x cash flow. 

Those are a lot of guesses but lacking hard estimates they are the best I can come up with.  



Bullboard Posts