RE: Mining Terms23 Jul 2020 19:07
RightOn:
Thanks that’s useful and clear explanation.
How does our current resource level of M&I compare to other miners of our market cap. My rough calculations give us ~$1bn of M&I, then we have inferred (which is likely to become M&I) and then the fact that Empire is only 1% explored. At £20m market cap is it normal to have this ratio of market cap vs. resource, I’ve been in a few miners over the years and this is the biggest ratio (biggest gap) I’ve seen. I could understand if we were drilling in a war torn area or a high risk country but we are in Idaho USA. On one hand I think this is the gem (90% certain), on the other I’m thinking what’s the catch (10%)....
Your views on our current valuation vs. similar companies would be appreciated and also your views on future value?
PS - Nice to see Zak Mir cover us today with a 50p target in a couple of weeks.