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Snowline which is maybe five years away from production at best is valued the same as Allied Gold which is already producing attributable 300kozpa and incrreasing that to >500kozpa in two years and >700kozpa within five years. Net present value is higher than what Snowline's NPV can be reasonably estimated to be based on current resources. Still higher even if you expect higher resources for Snowline. Allied has almost 18Moz in resources, 11Moz in reserves and has increased resources & reserves net of depletion. Snowline has 7Moz Inferred. Allied is cash flow and earnings positive.
If Snowline is cheap then Allied is gigacheap. Compares very favourably against other producers as well, but it boggles the mind how an exploreco many years away from cash flows can be valued the same or more when the likely NPV is still lower even when accounting for exploration potential. It makes no fucking sense. If AAUC drops to new lows after a good Q2 I might just bet my life savings on it for fucks sake.
