Post by Goodtoreadthis1on Mar 25, 2024 2:55pm
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Post# 35951302
Bought more CNX
Bought more CNXThe market valuation of Callinex Mining is beyond quite absurd. The market vlaue of the stock is $21.55 million in Canadian dollars. Point leamington, a zinc deposit owned by Callinex is valued at $788 mil US when you value the ore in the ground using the current zinc price ( the deposit is probably uneconomic in terms of profit potential at the current zinc market price, but the aggregate amount of zinc is relatively huge) . Using the indicated cu resource at Pine Bay ( as reported by CNX) the raw value of the indicated resource alone is $954 million US for the indicated cu resource alone. The inferred resources takes this intrinsic value number higher. Beside Point Lemington and Pine Bay, CNX has other valuable ore finds in the New Brunswic province of Canada.
Although I already owned a multiple 5 figure number of shares, Today's share price made a purchase decision quite easy. In my view it is only a matter of time before analysts covering this stock notice how grossly undervalued it is relative to intrinsic value of it's ore finds. As CEO Max Porterfield has freguentally pointed out, each of CNX's holdings are near to or at highways leading directly to each deposit.
In addition each find is in a mining friendly area with experienced miners living in surrounding areas.