Equinox is my Favourite Gold Growth StockI agree, they have the numbers. They have the right management and Ross Beattie has just personally covered (I think it was through a share issue) a lot of the recent purchase of the 50% share of one of Canada`s best deposits from Premiere. I think eventually EQX will buy the rest from Orion. This move obviously brings more political stability to the company, and will be a large mine.
KL is my biggest large cap producer holding, and when you look at their numbers plus the absence of debt and low political risk, it is hard to justify buying most of the other seniors.
Still, they have had their problems getting and maintaining the share value from a price perspective.
Having a share buy back program has helped at times to keep the shortsellers away. Share buy back is wolf-bane protection in that the company can combat an "operation" on the stock, especially around option expiries. I remember that last year in February or March there was a day when the stock price had a range of about $8 when the average stock price on that day was around $38.
So, a well timed stock repurchase program is something I support. companies like KL and EQX are not likely popular with the big banks. KL has no debt and does not need to borrow money or issue shares.
After royalty companies, (OR best in long term IMO) Kirkland Lake Gold, EQX is my biggest holding due to the best Price to Cash Flow ratio going forward, excellent Price to earnings ratio as well, great management, great growth profile.It may take awhile to realize the value, but I believe it is there.