Emerging Gold Producer with Massive Exploration Upside
SilverCrest
$246
Compelling Value
•
TSXV:PGDC
Patagonia trades at an EV/resource multiple of only C$28/oz AuEq, which is a 66% discount to the average of companies
advancing epithermal precious metals deposits in the Americas
Patagonia is amongst a small number of developers with a permitted mill that is forecast to achieve commercial production in
2021
EV/resource multiples of companies advancing epithermal precious metal deposits in the Americas (C$/oz AuEq)
$931 $351
$234
$210
$183
$152 $150
$138 $130
$113 $110 $105 $99
$89
$81
$69
Candelari
a
Golden Minerals
Silver Tiger
AbraPlata
GS
Λ
Note: gold equivalent resources calculated using spot metal prices as of January 29, 2021 of US$1,846/oz Au and US$27.02/oz Ag
Source: company reports and Capital IQ for market data. As of January 29, 2021
patagoniagold.com
16
$60 $55 $51 $50
Weighted average = C$81
$39 $37 $36 $35 $33 $32 $30 $28 $26 $20 $16 $14 $8
Monarca
Silver One
West
Vault
Stroud
Timberline
Integra
Southern Silver
Aftermath
Condor
Defianc
e
Kootenay
Getchell
Patagonia
Almaden
Golden Tag
Gunpoint
Revival
Paramount
&
PATAGONIA
GOLDView entire presentation