OTCQX:GTBAF - Post by User
Post by
flashcashon May 11, 2020 10:44am
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Post# 31011711
Cormark report
Cormark report...Our $16.50 target price (Buy (S) recommendation) is based on a 1.0x multiple to Great Bear’s risk-adjusted, fully financed after-tax corporate NAV7% of US$1,358 MM or $16.45 per fully diluted share (2020 forward basis with production start-up modelled in 2025)—versus Cormark’s standard practice of using a 5% discount rate for precious metal projects with compliant resource and/or mine plans (noting peers trade up to ~1.0x NAV). Said valuation is underpinned by Cormark’s formal commodity price forecast, which includes a long-term gold price of US$1,600/oz.
...We note that at a 5% discount rate, Great Bear’s fully financed after-tax corporate NAV increases to US$1,614 MM or ---$19.54---- (+19%) per fully diluted share in our model.
Don't go cheap on us !
GLA