Wednesday, October 11, 2017

Corvus Gold - Update

Last year I published an article on Corvus Gold (it was dispatched in the form of a newsletter). I discussed the North Bullfrog Project and tried to assess the value of the company. Most recently Corvus shares have been rapidly going up so it is time to update my valuation figures. Assuming that nothing has changed, here is the updated calculation:

  • value of North Bullfrog: C$128.5M (as in the article)
  • Cash at the end of May 2017: C$1.3M
  • Debt: null
  • Shares outstanding: 99.78 milion (end of May 2017)

Equity value = $129.8M

Share value: C$1.30

Today Corvus shares were trading at the price of C$1.30 a share so...they hit my target price.

1 comment:

  1. Lots changed ??? It's the newly acquired Motherload property results that has boosted the share value.