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| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 11.6x - 12.8x | 12.2x |
| Selected Fwd EBIT Multiple | 3.4x - 3.8x | 3.6x |
| Fair Value | C$5.72 - C$6.78 | C$6.25 |
| Upside | -24.0% - -10.0% | -17.0% |
| Benchmarks | Ticker | Full Ticker |
| Ero Copper Corp. | ERO | TSX:ERO |
| Fortuna Mining Corp. | FVI | TSX:FVI |
| Capstone Copper Corp. | CS | TSX:CS |
| Aya Gold & Silver Inc. | AYA | TSX:AYA |
| Piedmont Lithium Inc. | PLL | NasdaqCM:PLL |
| Aris Mining Corporation | ARIS | TSX:ARIS |
| - | - | - |