CXB Entering 2023GXE is entering 2023 as the best performing Canadian gold miner.
GXE is the 5th most profitable good miner out of 42 Canadian gold miners I keep a spread sheet on.
While they are the 5th most profitable they are at the top with more profit going to shareholders than any other miner.
With the lowest d/e ratio of 0.03 of all the miners profit is going to shareholder equtiy and not debt holders.
With a eps to share price ($0.16/$0.90) 0.17 ratio that translated into a p/e of 5.6. It is the second lowest of the 42 gold miners.
It has the lowest p/b of just 0.63 of the 42 miners and p/cf of just 2.6.
In addition, CXB is expanding production and is hitting high grade intercepts. CXB is operating one of the highest grade, low cost mines in the world.
While someone did a market dump at the end of October crashing CBX's share price to $0.56 the following 5 trading days saw buyers take advantage of the panic to scoop up share and are continuing to do so as the share price has been climbing since and is currently at $0.90.
It was bad timing for the seller to dump but good timing for buyers as about 8 trading days after the dump the price of gold has reversed and on a run toward a high of $2,078 reached last March just after a Russian invasion of the Ukraine.
Russia is an imputus for de-dollarizations as nations around the world saw that dependance on USD made them vulnerable to US sanctions. US sanction of Russian dollar reserves made it clear the US would go to any length to sanction anyone out of favour if they would sanction Russia.
In response, USD is being dumped as much as possible and trade being done in currencies other than the USD and gold being accumulated by central banks for reserves.
As a result COMEX and London gold stores are being depleted as deliveries are being taken now rather than rolling over paper gold. Paper gold liquidity is drying up on the COMEX and in London.
https://stockcharts.com/h-sc/ui?s=$GOLD
https://stockcharts.com/freecharts/gallery.html?CXB.TO