The industry median for Enterprise Value to Gold Ounces in the Ground is US$37, while the gold stocks on our list trade between $6 and $9
SmallCapPower | October 3, 2017: A popular valuation metric used by the resource industry is Enterprise Value divided by Gold Ounces in the Ground. The metric provides investors with a relative price per ounce used to compare to other gold development companies. That being said, the gold stocks on our list are trading at an Enterprise Value to Gold Ounces in the Ground of between US$6 and $9, far less than the industry median of $37.
Meadow Bay Gold Corp. (TSXV: MAY) – $0.08
Meadow Bay Gold Corporation (Meadow Bay) is a gold exploration company based in Canada. The Company is focused on the exploration and development of its Atlanta Gold and Silver Mine property (the Atlanta Property or the Atlanta Project) consisting of over 10,000 acres of mineral claims located in Lincoln Country Nevada, approximately 250 kilometers northeast of Las Vegas, Nevada.
Satori Resources Inc. (TSXV: BUD) – $0.12
Satori is a development-stage mining company, located in Flin Flon, Manitoba. The Company’s flagship asset is an interest in Tartan Lake, and its related infrastructure, which includes a decline providing access to developed mining blocks within the Main and South Zones to a vertical depth of approximately 320 meters.
Maritime Resources Corp. (TSXV: MAE) – $0.12
Maritime Resources is a PFS-stage developer advancing its 12,775 Ha Green Bay property located in Newfoundland. The Company’s primary goal is the restart the Hammerdown gold mine. The Company currently has an agreement with Rambler Metals for a toll milling and tailings option at the Nugget Pond mill.
- Market Cap: $7,149,193
- Cash (CAD): $580,510
- Total Debt (CAD): $100,000
- Enterprise Value/Gold Oz.: US$8
Granada Gold Mine Inc. (TSXV: GGM) – $0.04
Granada Gold Mine Inc, formerly Gold Bullion Development Corp, is a development-stage company based in Quebec, Canada. The Granada Gold Property is situated in the Abitibi Greenstone Belt and along the prolific Cadillac Trend, which features various gold deposits. The Granada Gold Property is located approximately five kilometers south of the mining community of Rouyn-Noranda, Quebec.
- Market Cap: $15,574,749
- Cash (CAD): $1,057,610
- Total Debt (CAD): $907,760
- Enterprise Value/Gold Oz.: US$9
Vista Gold Corp. (TSX: VGZ) – $0.95
Vista Gold Corp. is a pre-feasibility stage developer advancing its Mt Todd gold project in Northern Territory, Australia located 56 kilometers by road northwest of Katherine and 250 kilometers southeast of Darwin. It also holds a 4.4% interest in Midas Gold Corp., as well as non-core projects in Mexico and the United States, and royalty interests in Indonesia. The Company’s North American assets include the Guadalupe de los Reyes gold/silver project located in Sinaloa, Mexico, and the Long Valley Gold Project located in California, United States.
- Market Cap: $93,652,322
- Cash (CAD): $2,584,980
- Total Debt (CAD): $0.00
- Enterprise Value/Gold Oz.: US$6
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.
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