An Appalling and consequential indecisiveness by Management See Slide 5 of FM Corporate Presentation in the link below.
It shows the valuation per gold ounce of the various categories of gold miners from Juniors to Seniors.
Note that gold developers are valued at just $43 US per share..$57 CAD per ounce .
According to my most recent estimate that QWN contains 18.7 m ounces, this values us at about
$1 billion CAD.
However, Junior Producers are valued at $130 US per ounce...$175 CAD per ounce
According to my most recent estimate that QWN contains 18.7 m ounces, this values us at about
$ 3.1 billion CAD.
This is a ratio of 3 to 1 which would value us now at $15.50 per share.
Yet, when asked of their strategic plans, we are told that plans for 2025.....not even long term strategic plans..will,.. if we are good, ... be told us in very late 2024.
This is an appalling lack of strategic planning whose indecisiveness or indeed it's absence, has plunged almost every shareholder underwater at a time when POG has gone from $2000 to nearly $2800.
Even worse, during that time we have suffered from egregrious equity financing, entitled the shorts to infest and profit from such passive financing, while not having in any way or form an aggressive stock
promotion program.
You might say, that they have entirely forgotten that it's the shareholders who pay their splendorous salaries , compensate them richly for their options while our sugar bowl is empty of sugar.
Whats even more disturbing about this neglect of our share price is that there is no reason whatsoever
for its current nearly all time low.
We have a tolling MOU with mettalurgucal outcomes fully matched with QWN ore types , a record POG
which ensures very high net margins, and mining and transport crews to minimize on site ore excavation and mining skills.
Very disturbing too is that we are now entering tax loss selling, which will intensify as we wait until late December for management to inform us most likely, that 2025 will be yet another Float Bloat and Hope year.
As I have posted earlier, 75% of a gold miners market cap is attributed to management quality and only
25% to number of ounces.
This matches quite well with our market cap situation here , confirming that CK, DL and the two Newmont retirees let alone the DEI guy, have left us high and dry, with cap in hand..
AIMHO
GLTA
https://firstmininggold.com/_resources/presentations/corporate-presentation.pdf?v=103009