the comparison to make is with DRM if anything - BLK has a legacy reconciliation and reputation issue that will haunt it for years - you dont go $1 to 4cents without burning nearly every small cap gold producer investor
it will be years before anyone ever trusts what they say about forward planning
MOY and DRM sit roughly equally in terms of reputation, of current and future production plan and similar in terms of cost profile. MOY has better grade and better LOM scope - DRM a better cost profile because its not multi-pit
not surprisingly DRM $137m EV fully diluted, MOY $129M
to put it in perspective though- both stocks trade 2.2-2.4x EV/gross operating income - vs stocks like sbm, sar and rrl on 8x plus
thats the focus if a gold bull market occurs - as you;re likely to see that gap close moderately as the smalls get a bigger % increase in risk reduction.
id say the selloff in MOY had little to do with anything other than positioning for the Dec quarterly - the stock will likely gather itself around here before pushing up toward 25c again by end of January
