Sorted a few gold companies with projects at feasibility or finance/contruction phase with similar ball park stats to LAT to compare values against peers. Not a complete list at all just a few i can think of.
LAT has been discounted largely due to significant difficulties obtaining local permits in Peru for exploration and development but was awarded pre-development permits in July this year, the mining permit is still a key hurdle.
Company also disclosed that it had received unsolicited approaches to invest in the project/company which were declined. Still a roughy but summary below gives a few ideas where LAT sits in terms of EV and capex/opex profile. Also backs up my comments on KGL.
LAT
Stage Feasibility EV ~A$11M Resources 6.2 Mt @ 1.7 Au eq Capex US$30M (inc owner equipment and possible reduction in site location costs?) Production 44 kozpa Au Eq Cash Costs US$223/oz Grade 1.6 g/t Au Mine life 6 years Capex Intensity ~US$682/oz
YTC (Hera)
Stage Feasibility EV A$50M Resources 1.8Mt @ 8.8 Au eq Capex US$51M Production 46kozpa Au Eq Cash Costs A$360/oz Mine life +7 years Capex Intensity ~US$1109/oz
TRY (Casposo)
Stage Finance/Construction EV A$144M Resources 2.4Mt @ 7.9 Au eq Capex US$74.5M (inc IAU payment) Production 67kozpa Au Eq (higher with lower gold silver ratio) Cash Costs US$90/oz Au Eq (likely lower or negative with silver) Mine life 6 years Capex Intensity ~US$1112/oz
KGL
Stage Finance EV A$27M Resources 19.2Mt @ 1.8 Au eq Capex US$70.4M Production 87 kozpa Au Eq Cash Costs US$0/oz Au Eq (copper credits) Mine life +8 years Capex Intensity ~US$809/oz
KRM (Way Linggo)
Stage Construction EV A$143M Resources 0.67Mt @ 10.6 Au eq Capex US$24M Production 58 kozpa Au Eq (possibly higher from recent UG development) Cash Costs US$143/oz Au Eq (silver credits) Mine life +4 years Capex Intensity ~US$414/oz
EVG (las lagunas)
Stage Finance EV A$28M Resources 5.1Mt @ 4.4 Au eq Capex US$72.5M Production 75 kozpa Au Eq Cash Costs US$333/oz Au Eq (silver credits) Mine life +6 years Capex Intensity ~US$967/oz
RED (Siana)
Stage Finance EV A$70M Resources 5.1Mt @ 4.5 Au eq Capex US$72.5M Production 85 kozpa Au Eq Cash Costs US$351/oz Au Eq Mine life 10 years Capex Intensity ~US$967/oz
LAT Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
