Gold +4.5% to $755SMF +.09 to C$1.01 +9.78% nice pop in gold and our favorite producer. Finally poked it's head above the one buck line after a long absence. Hope we can follow this up with a nice strong production and earnings report.
The valuation here is ridiculous. If you started from scratch today, how much would you have to spend to find and build three mines and get them up to 20K oz per month? Almost 7 million oz of reserves and resources and a huge land position surrounding our three mines.
My only worry is that someone will scoop this up near today's valuation. Our only saving grace is that this is three smaller mines rather than one mine. Majors want size and we may be too small per mine site to interest them. Hope the price climbs enough to avoid a cheap takeover. Need at least a triple to get into reasonable valuations.
Bobwins