Last week we presented on stockhouse.com a possible Gold Royalty Stock Portfolio.
In the first Part of a series of articles to be published focusing soly on the Royalty space we present a comparison of Canadian listed Gold Royalty Companies with more than 5 Projects in production
T.FNV – Franco Nevada http://www.franco-nevada.com/
Marketcap Basic: 8200million Marketcap FD: 9018million
Assets:
Producing: 43
Development: 26
Exploration: 139
Revenue (q2 2012) 100million
2013e: 430-460 @1700$/oz
Royalty revenue multiple: 19
Gold ounces of underlying assets approx 290million
T.RGL – Royal Gold http://www.royalgold.com/
Marketcap Basic: 5600million Marketcap FD: 6000million
Assets:
Producing: 39
Development: 26
Exploration: 126
Revenue (q2 2012) 61million
2013e: 250-270million @1700$/oz
Royalty revenue multiple: 22
Net equivalent OZ Reserve: 7-8 million
V.SSL – Sandstorm Gold http://www.sandstormgold.com/
Marketcap Basic: 1050million Marketcap FD: 1220million
Assets:
Producing: 5
Development: 5
Exploration: 1
Revenue (q2 2012) 15 million
2013e: 55-60 million @1700$/oz
(the difference between Revenue and free cash flow is higher than for BPV/FNV/RGL because there are ongoing payment for the streams)
Royalty revenue multiple: 21
Attributable production ounces 2013e approx 42.000
T.BPV – Bridgeport Ventures (soon to be Premier Royalty, all on a post transaction bases) http://www.bridgeportventures.net/
Marketcap Basic: 118 million Marketcap FD: 155
Assets:
Producing: 5
Development: 1
Exploration: 9
(+ the option to generate internally additional ones on any transaction T:PG might make on it`s assets)
Revenue (q2 2012): 8-9 million (information from previous Royalty owners)
2013e: 10-12 million @1700$/oz
Royalty revenue multiple: 11,5
Attributable production ounces 2013e approx 6000 ounces
(to read more on Premier Royalty you may continue reading here: http://mineninvestor.com/?p=107)
DISCLAIMER:
Legal Notice / Disclaimer
This document is not and should not be construed as an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Martin Hoff has based this document on information obtained from sources he believes to be reliable but which has not been independently verified; Martin Hoff makes no guarantee, representation or warranty and accepts no responsibility or liability as to its accuracy or completeness. Expressions of opinion are those of Martin Hoff only and are subject to change without notice. Martin Hoff assumes no warranty, liability or guarantee for the current relevance, correctness or completeness of any information provided within this Report and will not be held liable for the consequence of reliance upon any opinion or statement contained herein or any omission. Furthermore, I, Martin Hoff, assume no liability for any direct or indirect loss or damage or, in particular, for lost profit, which you may incur as a result of the use and existence of the information provided within this Report.
