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Golden Valley Mines Ltd identifies, acquires and develops exploration and evaluation minerals in Canada as well as acquiring royalties. Its exploration properties are located in the Abitibi Greenstone Belt (AGB) (Ontario and Quebec); the James Bay, Mistassini and Otish regions of northern Quebec; the Nunavik (Ungava and Labrador) region of northern Quebec; the Athabasca Basin of Saskatchewan... see more

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Golden Valley Mines Ltd > In for more - discount is ridiculous

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Post by PeterHH on May 07, 2020 12:20pm

In for more - discount is ridiculous

I know I know, the discount may never go away. However, I cannot help myself and increased the position today again. My math shows that Golden Valleys position in Abitibi is worth $115.3M versus their current market cap of $68.5M. Just insane. Stock would have to increase 69% to get to this value!

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Comment by Malpeque2 on May 07, 2020 3:26pm

The discount has persisted at about the same level for 5 years. The discount will "go away" someday when Glen Mullen and GZZ and/or RZZ are gone. On the margin, GZZ could sell some shares of RZZ into the buybacks, and use the proceeds to repurchase GZZ shares in the open market. THis would have the economic effect of increasing the remaining ownership ...more

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Comment by PeterHH on May 12, 2020 11:24pm

Appreciate your comments Malpeque2. Seems absurd to me. So I guesss the only endgame then is a safe for Golden Valley, which would mean a sale for Abitibi? Otherwise, the death spiral you discuss above last forever!?

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