RE: RE: Some Discrepancies well i think they are quite conservative with their estimates. I hope we see some nice upside suprises next year.
But let`s assume we only have 5000 ounces avarage over the next 2 years that`s royalty revenue of 8,5million @ 1700 Gold.
Sandstorm has 50.000 ounces over the next two years. that`s taking into account the avarage ongoing payments of 450$/oz = 50000*(1700-450)= 62.5million Stream/Royalty Revenue:
So for 2013/2014 it compares like this
SSL 1000million marketcap / 62.5million revenue = 16
NSR 135 million marketcap/ 8.5million =15.9
So basically more or less the same valuation currently. but i still believe PREMIER might have the better short term upside. Let`s not forget that NSR owns a first right of refusal on any transaction that might be made by T.PG in terms of a Royalty.
Then NST also has a 100k per annum upfront Royalty and they still own a large land package in Nevada which they can sell. As well as 7 Exploration stage Royalties , of which at least the Rain mine could come online sooner than we think.
The reason we have approx 11million more shares OS is simple: T.PG exercised their one time right and PREMIER is now debt free, as well as all aquistion cost were settelt.
Bottom line: SSL and NSR both have great upside. but it might be more difficult for SSL to add another Billion (100% gain) than for NSR to add anmother 135million in marketcap. So looking for a double: NSR is the better one in my oppinion.
By the way: if you look at attributable ounces/valuation you should check V.ASE: 2200 oz attributable in 2015, marketcap below 21million...
https://mineninvestor.com/?p=397
Especially given that KGN and PMV merged and the underlying asset (obotan is now fully funded)