GREY:CLGRF - Post by User
Comment by
Chris_torontoon Mar 29, 2013 10:37am
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Post# 21185131
RE: RE: RE: Conference Call
RE: RE: RE: Conference Call It's interesting that you say that because a few days ago I did look at an overview of Elgin and immediately I started comparing it to Claude.
It was just a first impression but, I thought they have somewhat higher production costs than crj. They have similar size annual output, no debt and a bit smaller market cap which surprised me because they have long life ore bodies in their current mine and better potential with their exploration properties. Again, all of this is first impression info from a quick glance.
A few days earlier I took another quick glance at a company I was hearing about for the first time called Treasury Metals. Seems to have a mine under development in the Kenora region (somewhat close to Madsen's Red Lake) and have a very promising PEA projecting 80k oz/year production at less than $700/oz cost. Yet the company has a market cap of only $34M and no debt.
I don't think I will be buying Elgin or Treasury but I'm starting to question the valuation of Claude and Rubicon in comparison. Is it possible that they are not particularly that cheap but rather the whole sector is cheap? Am I better off buying the junior's index??
C.