More evidence on EDV ValuationThis article in the FT:
https://www.ft.com/content/47ae1dc0-42b6-4837-b0ad-0230251a73e4?segmentId=98583035-ac35-a0ba-ed44-378e53f8caec reports on the planned IPO in Moscow of Russian gold miner GV Gold.
It says that the company is looking for a valuation of $1.5-$1.8bn in its float. The article also says that it is due to produce 300koz this year and made a profit of $137m last year. By my reckoning that makes it around 1/5 the size of EDV, so further support for a fair valuation of US$7.5-9bn.
Whilst some may not be so keen on West Africa, personally I wouldn't touch anything in Russia or the FSU - ownership rights there are just too uncertain.
Cheers,
Mark