Vaugn. You bring up some interesting comparisons, although I would like to offer a few brief quibbles with your numbers, if I may.
You wrote: Allowing for the fact that TAH has lower value per tonne ore, a much smaller resource, is much further away from Yellowknife and will have to take on a load of debt, one might consider using TAH’s current $261m MC as a rough yardstick for where MPV ought to be valued about now. MPV has about 42.38m shares so extrapolating a rough upside the market should be reasonably assigning $6.15/s and based on MPV’s 44% of GK it should reasonably be assigning a floor of $2.70/s.
Actually, MPV has 52.6 million shares outstanding, according to the TSX, and it will end up with just 36% of the project, according to MPV's latest annual report.
Adjusting your Tahera-calculated share price accordingly, your $2.70 floor for MPV turns into $1.80 per share.
There is a lot of investor exuberance for Tahera and Shore Gold currently. There isn't much of a short position in Tahera currently, and it will be interesting to see the mid-March report for Shore. Will it be up -- or down?
I wholeheartedly agree however about your promotional comments -- PR, you called it. Still, the best opportunity to band the proverbial drum will come after the prefeasibility study is released. Until then, it will be a tougher sell. Once again, that emphasizes the importance of the study, I believe.
Regards,
WillP |
