RE: Research Note - Sum of parts Valuation at multiples of present market cap.19 Dec 2023 08:08
Value will eventually play out here & in a big way for those positioned at these levels.
Our nearest peer comparison with very similar assets and capital structure is probably AYM who are valued ag 10 x times the market cap here.
Like CHF, They have a polymetallic deposit.
There's is at parys mountain, and Chesterfield's polymetallic deposits at the westline trend are shaping up to be a series of large VMS style deposits right across a 12km trend with much higher instances of gold contained within our licence area
AYM also have exposure to a Canadian iron resource in Labrador, whereas CHF have both exposure to the massive 44km Adeline project and Sail Pond projects all free carried for holders here
Again similar, it looks like AYM have replaced their former 20% Cornerstone investor and we have done similar with our new UAE based investment fund.
I'm far more excited by the potential of the assets here at Chesterfield but even more excited by the valuation gap that needs to close to some of our nearest peers which is at multiples of today's SP
GLA.