Price to Sales Fair Value of MMY almost half of all companies in the Metals and Mining industry in Canada have P/S ratios greater than 3.3x and even P/S higher than 22x aren't out of the ordinary.
For gold stocks, the P/ S ratio tends to fall in the 1.5 to 2.5 range .
But, this is largely hindcast and the ratio is now moving upwards with the price of gold.
Going forward to F2024-2025, Q4 of F2023-2024 would be the most recent indication of Production metrics.
Annualized, Q4 sales was $75 million in US and $100 million in CAD.
Taking the median P/S of 2 and the fair value is $200 million which is about $0.60 per share.
This assumes that the POG remains the same as Q4...$2200 ..and that no production growth occurs in F2024-25....and no value is given to Murchison
That is, the Fair value of $0.60 is probably conservative