Comparative As Orvana only recently began hitting its stride as a producer the market has yet to price it properly.
A comparative with Silver Crest Mining that has been producing for a longer period of time shows that. Silvercrest's longer production period gave the market time to evaluate and price Silvercrest accordingly. Silver Crest is a good yard stick to use because while it has a smaller share holding it is in the same relative ball park as Orvana as to outstanding shares. The net earning per share last quarter for Orvana and Silvercrest was $0.05 and they are both precious metal producers. Also, it has a similarily good balance sheet as Orvana. As of yesterday's share price and as of the last quarterly reports:
Orvana Mineral Corp. Silver Crest Mines Inc.
Share Price $0.57 $1.88
Shares 136,623,171 108,593,200
Book Value $146,813,000 $94,430,711
2013 Production
Au ounces 75,000 33,000
Ag ounces 850,000 625,000
Cu Million lbs. 18 nil
Revenue last quarter $44,301,000 $15,329,642
Net Earnings $6,483,000 $ 6,002,276
Net Earnings/diluted $0.05 $0.05
Based on these comparative fundamentals the market has yet to price Orvana appropriately. By all fundamental accounts the market should be pricing Orvana higher then Silvercrest as it has three times the production value, has a larger book value and have much better development prospects and yet it is Silvercrest that is priced 3.3 times greater in the market.