What is wrong with this picture???Nobody believes the CEO presentation at R&R this week. Nobody believes the RQ insider buy.
Nobody believes the 3Q OCF to eliminate the Working Capital deficit.
Nobody believes all those drills from the stopes as they developed the mine infrastructure all done post this FS controversy.
This is the next big Canadain mining fraud since Bre-X?
i have this at 4X EV/EBITDA with limited debt at year end 2018 if they hit their 500K ounces.
1300 gold and 500 cash cost is 400M EV/EBITDA and debt will be almost gone.
With the long mine life and low cash cost, and all the exploration and production upside the CEO talked about, in a safe jurisdiction, this should be valued more like a streamer/royalty company at 15X EV/EBITDA. The bigs will pay easily 8-10 X to get someting that is as good or better than almost anything and everything that they have in production.