Bridgeport Ventures Inc T.BPV

Ev/Cashflow

[unlimited_aw]

@TieTime;

Although I also believe in huge price appreciation for Bridgeport once the deal is completed, I don't share the calculations that led to your $190 marketcap.

Bridgeport Marketcap $ 190Mio / cashflow 2013 $ 8Mio = EV/CF 24

Sandstorm Marketcap $ 645Mio / cashflow 2013 $ 48Mio  = EV/CF 13

Compared to Franco Nevada and Royal Gold perhaps the difference is less, but that is logically caused by their track record and their much bigger portfolio, which minimizes bottom line risk. Secondly those three have a royalty streaming model instead of NSR revenues at Bridgeport, which gives taxable disadvantages for the average US investor.

[retiredcf]

You are bang on unlimited and that's why Sandstorm is my largest holding. But I was also pleased to jump into BPV at this early stage of becoming a royalty company as I like the streaming model and all of these companies have tremendous potential if world events work out the way I envisage and precious metal costs begin to soar. GLTA

[Teatimenow]

i would disagree here, some points that brought me to a fair Value of approx 190million $ for the Newco (Premier Royalty Inc): Royal Gold vs. Premier Royalty - RGL 2013e Royalty Rev. of 280million, Marketcap 4.4Billion = multiple of 16 - Pemier Royalty - Royalty Rev 2013e of apporx 8,5million at 190million marketcap = multiple of 22 - qualitiy of underlying assets similar: major producers with

[unlimited_aw]

Good for you to disagree. Your information gathering is really appreciated.   As for your comparison, I think we don't have to much to argue about the numbers itself. Except perhaps the projected cash flow from operations at Sandstorm. Sure, the current gold prices are a bit lower than in the prior quarter when Sandstorm announced $11 million cash flow from operations, but my guess is

[Teatimenow]

thanks for your thoughts! sure the Newco itself has no track record yet. but if you read herehttps://mineninvestor.com/?p=107 about the proposed board so far, these individuals have a very good track record. and the parent company Premier Gold mines, not only has Newmont as partner, but was one of the very few explorers that was able to generate positive returns for shareholders in the

[Teatimenow]

just one more point   "But still, the $ 38 million you mentioned would give Sandstorm a ratio of 16, which is 38% lower than the Premier Royalty ratio of 22. My major consideration to disagree with you is that  according to you, a higher ratio for Premier should be justified based on their partners, which are major producers with a nice track record. This track record however, is