GCM.TO (TPRFF)
I brought some TPRFF at $3.28 as I feel this is a very attractive gold miner towards the close today, it is a small position, but I do like it.
1) Stock is essentially at 52 week lows which I feel is a good entry point.
2) TPRFF pays roughly a 4.35% dividend yield, at the price I purchased shares, in monthly payments, fits a good way to get some income.
3) Earned and Adjusted .14 in q1, I fully expect .60-.70 EPS adjusted at current gold prices, versus a $3.28 Share price, hence the stock is cheap on that alone.
4) Of course the companies acquisition and some point will be huge diversification and Could make production explode in 18-24 months if everything goes to plan. Hence that is a catalyst to make it look more undervalued in the future.
5) The Company trades at a steep discount to tangible book, with well over $3.00 in cash, although admittingly that is for the buildout of the mine of something that could possibly be the cause for a huge jump in production.
Conclusion: A small postion about 1.5% essentially of the portfolio, and I will add on weakness, like all my buys. I love the Monthly divy, I love the catalyst of the possible huge jump in production that could be coming in the future, but the stock is very cheap on the fundies now, and huge potential for much more in the future. All is just my opinion, and I could always be wrong though.
