You claim that ATV’s Cochrane Hill is massively overvalued “$64/oz is a massive overvaluation” as compared to NCM’s “$350 or so per reserve ounce” (your figures) because ATV has “no plans whatsoever to mine it for 7 years”. But what you fail to disclose is that NCM’s reserves will on average not be mined for over 15 years, and that approximately half of these reserves are in PNG!
In your haste to develop an argument, you failed to see that AQG’s dual listed (ASX & TSX), and that the market cap per reserve ounce is consequently more than 3x higher than the $100/oz you quoted.
Your figure of $117/oz for KCN is clearly mixing reserves with resources. Your figure needs to be multiplied by more than 2.5x for market cap per reserve ounce.
Disclaimer: I am extremely bullish about ATV, and biased too. Please do your own research and consult a finance professional before buying or selling ATV or any other stock mentioned by me or others on this forum. You can lose the lot on any investment, so be careful!
ATV Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
