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With earnings of $.06 for the quarter if that is annualized to $.36 the stock should be much higher even at a low 10X multiple. Most royalty companies are selling for much higher multiples. That would be $3.60 per share just on earnings. I agree for some reason the market is not seeing the great story that Eurasian is becoming.
Find the 3rd quarters earnings!! $.06 per share. The best quarter ever and delivering on long promised positive earnings. The market is not seeing the quarterly report or the stock would be much higher! Look on EMXX website or SEDAR.
Freeport-McMoRan does not need to find financing to complete a project. This is one of the main reasons that Eurasian partners with large mining companies. To say that 9 million ounces of gold and 12 billion pounds of copper in the ground does not mean anything is ridiculous. If you understand the report this would be an open pit mine with very little overburden material to remove, causing costs to be much lower. This poject still has a long ways to go to become a profitable mine but the initial report is very favorable!
Great news! A long press release but if you get down to reserve numbers 9 million+ ounces of gold and 12 billion pounds of copper that is WORLD CLASS with exploration upside on each deposit. This is a year longer in coming than I expected but wow!
geodan, sorry I was under the weather for a while and did not see your post. David Cole is the answer from an analyst on the Nevada site tour in November I believe. The reserves spoken of were 10 time the current reported reserves. If the royalty is worth $30 million currently then 10 times that number would eclipse the current market value of EMXX by a long ways. I expected an updated number already but getting information out of Newmont is tough. The new Turf Shaft will increase production at Leeville which should help cashflow also. I am looking for EMXX to be cashflow positive in the first half of 2015.
There has been a patient big bidder in EMXX for the last week or so.
Great post but I don't understand why people can't understand a royalty. The reason they have not had to recapitalize is due to their royalty. If the amount they are receiving, and the duration, increase greatly it should reflect immediately in the share price. Royalties are relatively easy to value.
We should be hearing soon on updated reserve numbers for EMXX's Leeville royalty. I believe NEM puts out updated numbers in December. I am looking for a huge increase that should make EMXX's royalty alone worth more than their total current market value.
I hear you but I think the Russian deal or the Leeville Royalty could make EMXX go up without the price of metals going up. I don't know what the FED has up their ...(sleeve), but these two thing could make EMXX more valuable now whether the price of metals moves or not.
This is an interesting time for Eurasian. While the market for junior mining companies is very difficult that also means that there are many project that are cheap. I watched Royal Gold in 1998 after the Brex debacle slowly make deals and buy up royalties that turned them into the company they are today. I would love to hear of a couple of new royalty deals or a buyout of a company that is out of money but has great properties. IMHO this would be another catalyst that could drive EMXX much higher.
I like your time frame but I think things could happen much faster. I believe Newmont updates reserve figures in December or early January. They are notorious for putting out as small a number as they can and then slowly increasing it. If we see a big jump in reserves that could be a catalyst as Royalties are fairly easy to value for the market.
I am betting on the Chinese to buyout the Russian project. With the closer ties as of late it would only make sense to see a Chinese mining company buyout the project. It is one of the, if not the, biggest new copper/gold discovery in the World with great infastructure and proximity to China.
I have heard that Newmont has been having great sucsess in exploration on the Leeville Property. They currently are reporting reserves below 2 million ounces but I have heard from an analyst tour that the number may be as high as 20 million ounces! They also just completed their Turf shaft which should mean that production could more than double on Eurasian's royalty land. This would make EMXX revenue neutral by the first quarter of 2015. Also if one applied a valuation model like other royalty companies on the Leeville Royalty alone EMXX would be valued at more than 4 times the current market value. This is why I invest in EMXX, they have so many different ways that value can be derived.
foxwoodsfan no sooner than you ask for some more info than EMXX puts out details on another property deal. I would love for them to put out an overview or presentation on all their properties so keep posting and maybe it will happen! I am not sure if this is how you post a link so let me know if it doesn't work.
http://www.marketwire.com/mw/internal/woidwosegid2release.jsp?woid=956131&segid=1
I agree that I would like to see more news out of EMXX but they do not make up stories like so many other gold companies. I also agree that gold is up but take a look at the gold stock sector and you will see that the whole sector is down. I think that will change soon as the rest of the Fed pumped market comes under pressure. EMXX will be looked at as a screaming buy at these levels.
foxwoodsfan it appears your only goal is to bash this company. Your post on a Thursday before a 4th of July long weekend where there is very little volume on any exchange is silly. It would be foolish for management to put out news or do anything other than continue to work on their projects at this point. I believe that Eurasian has one of the best management teams in the entire junior resource sector. Time will prove that out but while the entire gold sector is down EMXX is a stock to accumulate for what I believe will be a run in gold stocks.
Great article on Zero Hedge about China Gold looking for investments close to home. EMX's copper/gold interest in Russia would fit the profile.