beyond cheapI bought a few more at .94 and thought I got a deal. A few minutes later it's .88 and dropping. WTF?
We are a profitable, cheap gold mine. Million of ozs in verfied reserves. Made .05 eps last qtr with more increases in production coming. Forward p/e of 5 and dropping?
I noticed that Redback Mining, T.RBI was a price gainer the other day. I noticed they had a mine in Africa and were in the 65,000 oz per qtr range. Many similarities to SMF but their market cap is 1.2 billion compared to around .2billion for SMF. We have more shares out (215 to 190) but similar. I couldn't find a reserve figure but they talked about reserves at their two projects and it sounds like maybe 3 million total.
So are they worth 6X Semafo?? Hard to believe.
Oh well. I'm basically a value investor so I have to wait for the market to "Discover" our little secret stock, SEMAFO.
Bobwins