Emerging Gold Producers Ranked -- Market Cap $ Per Oz. of Production
Mon, Nov 9, 11:21 PM ET, by The Gold Stock Strategist
.
Errata: The previous version of this article contained errors in the data. This one includes the correct data.
_________________________________________________
This is an update of my market capitalization $ per ounce of production ranking for 2009.
As I have written before, this technique provides a standard quantitative comparison of company share valuation. Again, it is just one dimension used to assess whether or not an emerging junior gold producer deserves further due diligence. This data--and much, much more--is updated and provided to subscribers of the Gold Stock Strategist newsletter at the beginning of every month.
There are several qualitative measures for assessing junior gold mining stocks that are important like political risk, currency exchange risk, property rights risk, remote site risk, single mine risk, operational risk, management competence risk, and others. Investment decisions should not be made on any single dimension of emerging gold producers.
The following is my most recent analysis of 36 emerging gold producers using the market cap to production metric based on closing share prices on October 30, 2009. The lower the value, the more undervalued the stock on this narrow dimension of valuation.
| RANK | COMPANY | SYMBOL | MARKET CAP (million$) | MC / OZ. PROD. ($) Proj. 2009 | | 1 | Oceana Gold | $OGDCF | $135 | $450 | | 2 | ATW Gold | $ATWGF | $14 | $560 | | 3 | MDN Inc. | $MDNNF | $51 | $680 | | 4 | Richmont Mines | $RIC | $72 | $960 | | 5 | Gold-Ore | $GREXF | $44 | $978 | | 6 | New Guinea Gold | $NGUGF | $17 | $1,133 | | 7 | Alexis Minerals | $AXSMF | $55 | $1,213 | | 8 | Metanor Res | $MEAOF | $39 | $1,625 | | 9 | Claude Resources | $CGR | $79 | $1,756 | | 10 | Golden Star Res | $GSS | $725 | $1,813 | | 11 | Castle Gold | $CSGLF | $77 | $1,925 | | 12 | Northgate | $NXG | $751 | $1,976 | | 13 | Wesdome | $WDOFF | $184 | $2,457 | | 14 | Troy Resources | $TRYRF | $137 | $2,491 | | 15 | Santa Fe Gold | $SFEG | $103 | $2,568 | | 16 | Dynasty Mtls & Mng | $DMMIF | $130 | $2,608 | | 17 | La Mancha | $LACHF | $223 | $2,624 | | 18 | Capital Gold | $CGLD | $149 | $2,980 | | 19 | Timmins Gold | $TMGOF | $47 | $3,133 | | 20 | Gammon Gold (AuEq) | $GRS | $1,110 | $3,828 | | 21 | Jinshan Gold
| $JINFF | $270 | $3,857 | | 22 | Jaguar Mining | $JAG | $665 | $4,030 | | 23 | Aurizon | $AZK | $693 | $4,617 | | 24 | Alamos Gold | $AGIGF | $880 | $5,867 | | 25 | New Gold | $NGD | $1,400 | $7,000 | | 26 | Great Basin Gold | $GBG | $490 | $8,167 | | 27 | Allied Nevada | $ANV | $587 | $8,386 | | 28 | Minefinders | $MFN | $621 | $10,350 | | 29 | Gold Resource | $GORO | $366 | $10,457 | | 30 | San Gold Corp | $SGRCF | $637 | $12,740 | | 31 | Lake Shore Gold | $LSGGF | $683 | $27,320 | | 32 | Hawthorne Gold | $HWTHF | $23 | -- | | 33 | NovaGold | $NG | $789 | -- | | 34 | Osisko Mines | $OSKFF | $1,930 | -- | | 35 | Terrane Metals | $TRXOF | $84 | -- | | 36 | Vista Gold | $VGZ | $113 | -- |
As always, I hope this helps readers get a sense for the relative value of these companies based on this single valuation metric.
Best,
The Gold Stock Strategist
---------------------------------------
Check out the Gold Stock Strategist newsletter for detailed resource, operational and valuation information on over 50 gold producers. The letter provides recommendations in three risk-based categories—conservative, growth, and speculative. One recommended speculative pick, Castle Gold, is up 87 percent on a bid from Argonaut Gold since being picked by the Gold Stock Strategist as a buy-out candidate in the August 1 letter.
SDI Glossary: "price" Definition
SDI Glossary: "Stock" Definition
This Article's Word Cloud:
Alamos
Argonaut
CGLD
Castle
GORO
Gold
Guinea
Hawthorne
Jaguar
Minerals
Mines
NovaGold
OGDCF
Resources
Stock
Strategist
Terrane
This
analysis
based
company
comparison
data
dimension
emerging
gold
growth
information
junior
just
letter
market
metric
mining
more
most
much
newsletter
operational
producers
production
property
provides
risk
share
single
speculative
this
valuation
value
 2 Comments
 You are missing a good one - Avion Gold - in production since early '09 - projecting a 20k oz run rate for 4th quarter - and its cheap, not as cheap as two weeks ago, but still cheap. And its off the radar - its not on any of the lists that get put out. -- Alex
Tue, Nov 17, 2:25 PM ET |
You've missed the best one: Chesapeake Gold $12 per Ounce!
20 MM AU Equivalent
-- William
Fri, Nov 27, 4:17 PM ET |
More articles: 1 2 3 4 next »
|
RSS