RE:Great new seeking alpha article (edv becomes new randgold)A very good article - and it is the comparison against Randgold that caused me to hold my EDV position (with a little topslicing), considering the relative valuation.
However, the article's author is missing a trick or two... EDV does not need to make any more acquisitions to get past the 1Moz mark: forecasts in the presentation do not yet consider the Ity CIL project. That is expected to add at least 120koz of production - could be more, when we see the DFS in a few months time (or maybe sooner? - the latest presentation says "mid-2016"). All being well, management expects to start work on this as Hounde construction draws to a close.
On top of that we have a very substantial land package to explore: former TGM shareholders are very excited about the Liguidi prospect and we have quite a few others to explore too, which could lead to either expansion at existing mines or more new mines. We have been here before: Hounde came with the acquisition of Avion Gold.
Endeavour is not conducting a strategic review of its exploration activities for nothing!
Cheers,
Mark