OTCPK:HUMRF - Post by User
Post by
Monkeydonkeyon Jan 25, 2018 5:12am
104 Views
Post# 27429708
Cheapest gold producer?
Cheapest gold producer?Sorry to keep rambling on, but you just have got to look into hummingbird!
For a MC of 176M dollars you get:
-2.2Moz at Yanfolila, just started production targeting 130Koz in the first year. 107Koz over the LoM and 700$ AISC. (NPV8% 216M$ at 1400 gold)
-4.2Moz at Dugbe (PEA shows 20y LoM, NPV10% 337M$, IRR 43.4% at 1500 gold)
-5000square km of exploration footprint
-34% of Cora gold
-Net cash position around -40M$ (-80deb + 40Cash)
Fair value imo:
Yanfolila 0.75x 216= 162M$
Dugbe 0.6x 337= 202M$
Greenfields 10M$
Cora 5M$
-40M$
=339M$
Discount 48%
In the board/technical advisory committe/senior management we have people with links with endeavour mining and perseus mining. Really think this is going to endeavour mining for around 265M$.