Speedy's Top 6 Gold Miners 2012'
I just can;t resist adding the following company, placing it at number 1. The valuation is too compelling not too.
Petaquilla Minerals - Based solely in Panama and its flagship molejo project, at least until last Aug 11, when it acquired some attractive assets via the Iberian acquisition. it;s Panamanian assets already provide a significant production growth profile as 3 nearby open-pit mine will push aggregate annual production to approximately 160-175k by 2015, up from 100k projected in 2012. Due to rather significant by-product Ag and Zn credits, cash costs have averaged $557 since commercial production commenced in late 2009.
The recent acquisition was very strategically smart as the main asset Lomero-Poyatos, is nearly fully permitted and will soon enter the construction phase , contributing to annual production in approx 2 yrs. By 2016, this mine will add approximately 150-175k Au and 40m lbs of Cu [increasing to over 100m lbs by 2018].
Petquilla will also be spinning off its infrstructure arm 1 for 4.
Trailing p/e is 2x, 2012 P/e is 1.54 and 2014 is <1