SBM V EVN V NST Oct 6 2015-10-06 Market Cap SBM $520 MILLION EVN...

SBM V EVN V NST Oct 6 2015-10-06
Market Cap
SBM $520 MILLION
EVN $1960 MILLION
NST $1710 MILLION
AISC Cash Flow Jan to June 2015
SBM $139 MILLION
EVN $110 MILLION
NST $135 MILLION
Net Debt
SBM $233 MILLION (Sept 30 2015)
EVN $580 MILLION (pro forma)
NST ($178 MILLION) note no bank debt and $178 million in cash (June 30 2015)
Sept 2015 quarter increase in cash before principle payments
SBM $72 MILLION (VS $79 MILLION for the prior six months)
EVN ?
NST?
While it is prudent to wait for the full Sept. quarter results, it is likely that SBM just had the most profitable quarter in it’s history and may continue to generate more free cash flow than either EVN or NST. Given that SBM has 2.5 times the gold reserves as NST and substantially less debt than EVN is it not logical that SBM’s share price should eventually reflect this, thus targeting a price between $3 and $4 per share? Is there really a logical reason for the differences in market cap.?