EGX net asset valueI've seen the nav question come up here a few times and wanted to address it...
As of recent 43-101 resource report (July 23, 2013):
Gold: 2.04M oz (indicated), 4.36M oz (inferred), 6.40M oz total
Asset value: 6.40M × $12/oz = $76.8M
Silver: 18.47M oz (indicated), 4.45M oz (inferred), 22.93M oz total
Asset value: 22.93M × $0.19/oz = $4.4M
Copper: 1.1B lbs (inferred and total) = 17.6B oz
Asset value: 17.6B × $0.00175
/oz = $30.7M
Net asset value:
Gold $76.8M (68.6% total)
Silver $4.4M (3.8% total)
Copper $30.8M (27.5% total)
Total $112.0M
$112.0M / 142.1M shares outstanding = $0.79 (10× current sp value)
It is no wonder why aura is eating up these shares to the tune of 33% at a premium. This company is extremely undervalued and moreover, there is still a whole lot more coming!
Also interesting to see copper being almost 30% of their asset value. Reduced risk with gold price fluctuation.
A few things on calculations...I used widely accepted and conservative $12/oz valuation of gold and applied that same % to silver and copper based in their current value of approx $20 and $3 respectively. Please post if you have more accurate method for silver and copper valuations.
Unbelievable and this is very conservative. A year ago everything would double or even triple.
My humble thoughts only. Do your DD.