Un opinion sur celui la ???????
To: fuddle (0 )
From: Braincramp
Wednesday, Oct 20 1999 4:49PM ET
Reply # of 27
Check out Philex Gold Inc.(PGI)TSE
Three years ago when gold was selling for $400, Philex was
selling for $11, today it's selling for 20 cents.
Philex is one of the largest gold companies in the Philippines with an annual production of
100,000 ozs.
It has 40 mil shares outstanding, giving it a market cap.
of $8 mil. It has a book value of $40 mil ($1/sh).
Bulawan is their main mine with a gold resource of 20 mil
tonnes grading 2.3g/t = 1.5 mil ozs. With 2.3g/t,they have
a cash cost of $170 and a total cost of $280.
The last I heard their hedges were running out.
With gold at $500, they would generate $45 mil worth of
cash flow or over $1/sh and earnings of $33 mil or $.75/sh.
With gold at $350, CF = $22 mil ($.50/sh),earnings = $8 mil
($.20/sh).The company would have a P/E ratio of 1,and a
P/CF ratio of .4,not exactly over valued!If your looking
for a company with serious potential, Philex should be on your list. |
