Comparable company.Another company that I did some due diligence on today is Cross Lake Minerals (CRN.v). A buddy asked me to look into it since it is also a near term producer, which I like. It's trading at the same pps as EXM today and has a similar FD market cap based on its similar share structure. Cross Lake is also bringing a mine into production by Q3 of this year. However, CRN's mine currently only has a 2 year life based on a resource of only 78K oz of gold, and 800-1000tpd production. Sure it's in Canada (which is safer), but that just means a higher cost per oz to produce vs the cheaper Mexican labor. Anyways, all my DD showed me just how UNDERVALUED EXM is! Especially if CRN can have that market cap with what little it has. Needless to say I did not purchase any CRN and picked up more of this one.
Cheers,
J$