Dont be super sure on that. Gold road is great in that it has no debt, but it also has minimal leverage. It is an exploration company with a producing asset to fund itself. The value/upside in GOR is in its investments, exploration tenements not directly levered to the gold price as much as a full producer is.
It generated 140M free cash flow last year at a price of $2950/oz and sales of 161koz. Take recent lows of GOR around the $1.35, strip out the $465M investments and GOR sits at a multiple of 7. Not expensive by any stretch. But assuming (very generous assumption) that costs stay the same as per the Sept QTR at $1959oz for CAIC. (December was a shit show at $2400/oz) and GOR still produces to its current guidance which is much the same as 2023 at 161koz and keeping multiple of 7 (debatable)
$3000 - $167M FCF - $1.59
$3200 - $200M FCF - $1.81
$3300 - $216M FCF - $1.93
$3400 - $232M FCF - $2.04
$3600 - $264M FCF - $2.26
$4000 - $329M FCF - $2.71
The above is fairly conservative and not bad, but the real leverage in GOR is the exploration tenements/investments and chance to find another Gruyere. If you want direct leverage to the gold price id suggest there are better companies to do so. I posted a similar roughie of RRL this morning which has a bit more leverage to gold price.
- Forums
- ASX - By Stock
- GOR
- Ann: 2023 Annual Report
Ann: 2023 Annual Report, page-13
Featured News
Add GOR (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.62 |
Change
-0.010(0.61%) |
Mkt cap ! $1.755B |
Open | High | Low | Value | Volume |
$1.60 | $1.63 | $1.59 | $5.782M | 3.585M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 15350 | $1.62 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.63 | 58360 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15350 | 1.620 |
2 | 27331 | 1.615 |
6 | 109673 | 1.610 |
3 | 65315 | 1.605 |
7 | 58132 | 1.600 |
Price($) | Vol. | No. |
---|---|---|
1.625 | 6014 | 1 |
1.630 | 67086 | 3 |
1.635 | 65711 | 6 |
1.640 | 101340 | 4 |
1.645 | 111049 | 2 |
Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
|
|||||
Last
$1.62 |
  |
Change
-0.010 ( 0.34 %) |
|||
Open | High | Low | Volume | ||
$1.60 | $1.63 | $1.59 | 652369 | ||
Last updated 15.59pm 05/06/2024 ? |
Featured News
GOR (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
Previous Video
Next Video
SPONSORED BY The Market Online