Ana Paula is insanely undervalued. Alio is now deep value.I bought in after 3rd qtr financials cratered this stock but stepped out of half when I saw the $70mil impairment of Ana Paula. I've been looking at the technical report and believe that mgnt has mispriced this asset. Market cap to tangible book value based on a reasonable valuation of AP is .25. The market is valuing assets at 25c on the dollar. Getting Florida Canyon to even subpar profit is a 3-5 bagger. I only hope mgnt does not sell AP. Appears that Backens is a very conservative guy and could be smart enough not to screw the pooch. Second leach pad ramp up in 3 to 6 months should get them into volume to spread out fixed costs.
Anyway, back in my full initial position.