RE:Undervaluation ?andre171 wrote: If we count on an annual production of 250,000 ounces, the annual free cash flow should be a little over 100M.
Victoria is valued at 787M, almost 8 times the CF, I do not know if we can deduce an undervaluation. The same is true for 4M reserves. of ounces which are valued at close to $200, which seems sufficient to me. What do you think ?
The goal for 2023 is to produce 250,000 oz at an AISC of under $1,000. The higher the production, the lower the AISC as fixed costs are distributed over more ounces. 2021 AISC was last estimated to be $1175, but just 164,000 oz produced in 2021 and $17 million was spent on Call Options.
However, along with the POG, the cost of fuel has jumped much higher, so let's say the 2023 AISC is $1100.
At a current gold price of $1950, 250,000 oz of production would yield FCF of US$212 million.
Current Market cap is approx. US$853 million, resulting in a FCF multiple of 4!