Merry Chirstmas.Ok. The market gave us a lump of coal for Christmas for the short term.
Here are some things to keep in mind:
Excelsior is trading at 0.15 of NPV. It’s all in cost per pound including royalties and streams is in the lowest quartile of all projects in phase one and gets a lot lower in the expanded operations. Phase 1 is fully funded and the company is debt free. Multiple rounds extensive due dilligence have been done. The feasibilty study. The 60 page Snowden report that was commissioned by Callinan (Altius) and resulted in a positive investment decision. The 6 month deep DD done by Greenstone that resulted in major and multiple investments. The six month rectal exam by Triple Flag that resulted in major project financing.
From a credible major investment banker recently:
A basket of copper developers are trading at 0.3 NPV. Twice MIN’s.
A basket of junior copper producers at trading at an average of .6 NPV. That is 4 times MIN’s current price just as it’s on the cusp of joining that group.
Over the past few years aquisitions in the space have averaged the .8 NPV. That is 5.5 times Excelsior’s current mkt cap.
At $3 buck copper it would be about $4.00 US. Call it $5.00 Canadian.
The market will do as it does. But Excelsior is an undervalued gem who’s day will come and it will be sensational.
Best of the season to all.