RE: taking another look Thanks for the homework, Eastmain. Page32 of their latest presentation- shows a slew of companies with their EV per ounce of gold.
As you know I used to like Eastmain but got out some time back. The company just didn't seem to go anywhere.
Well, as I argued on my last post, being a potted plant may be a great virtue for a gold junior right no.
My favorite precious metals company, Sabina, they have an FD market cap of something like 240 mil and have 100 mil net cash. They have two assets- and excellent silver royalty that will amount to a stream of about 50 million ounces of silver over time at 0 cost, and a 6 million ounce good grade gold deposit. However, they are very actively developing their deposit. They spent 60 mil last year and they told me at Vancouver conference the other day that they may even spend a bit more next year, with emphasis on feasibilities and permitting. But what if gold just sits there for a couple years? They could wind up having to heavily dilute if they want to keep aggressively working toward a mine even in the face of low gold prices. I can hardly blame gold people for wanting to build a mine rather than sitting on their butts but to be brutally honest right now the best junior investments may just be the ones whose staff are the most willing to sit on their butts.