Marathon Gold Corp T.MOZ

Comparative Analysis Correction

[geezer21]

I checked the TSX reporting and it differed from Stockhouse.

463,661,752 is the listed shares outstanding
450,367,000 is the total shares

Stockhouse had total shares listed as 337,710,000

So lets redo that calculation using 450,367,000

Share count calculation:

13 Nov. '23 Placement     66,666,667      14.2 % of MOZ shares (See CXB notice)
Total MOZ shares           469,484,570      66,666,667/0.142
Converson on closing           x 0.6164

                    total            289,389,672
Total CXB shares           450,367,000


Merged shares             739,756,672

Note:  CXB is currently doing a NCIB so its share count may fall.

For 2023 Calibre delivered 283,494,000 ounces.  After merger Calibre guidance is 275,000 to 300,000 for 2024.

With the Marathon mine up and running guidance is for approximately an annual production of 500,000 ounces.

For comparison, total Eldorado shares is 283,494,000 trading at $16.92/share.  Eldorado is forcasting production of 535,000 ounces this year and 610,000 ounces in 2025.

Eldorado share count is 38.3% of CXB after merger. 

$16.92 x 283,494,000/739,756,672 = $ 5.18

ELD's last reported profit margin was 44.71% and CXB was 16.92%

Cutting the $5.18 in half gives a conservative estimate share value of $2.59.

[theCurse]

"Note:  CXB is currently doing a NCIB so its share count may fall." Highly unlikely - I'm not sure why posters think that this is something special.  They put it in place  (like sooo many companies) - looks good as a tidbit of news and allows them to do so **if** it makes sense.  It would be foolish to do now with the VL build not complete - imo.  Certainly