A relative estimate:

Some quick comparative math that can be used as a guide in calculating relative stock value. Although not entirely accurate… This is a good guide to make a quick valuation based on relative performance. The market considers many other factors when it sets a price, but it too is not 100% accurate. We are just making a comparison here.

Osisko

• Monthly gold production of 33,102 ounces
• Monthly mill throughput of 1,414,396 tones
• Average daily throughput of 48,772 tones per operational day (based on 29 days of operation)
• Average grade milled of 0.815 g/t Au
• Average recovery of 89.3%
• 436,394,662 shares out

MTO

• Metanor produced 1,718 ounces of gold last month.
• The ounces came from 8,534 tones.
• Ave. Daily throughput (8534/30) 213.35 tons/day
• Ore grading 6.47 g/t.
• Mill is consistently operating at 96-97% recoveries.
• 237,650,916 shares out

Gold production by comparative ratio:

GCR = (1718oz/33102oz) = 0.0519

Shares out ratio:

SOR= (436394662/237650916) = 1.8

Relative SP value by production:

$7.84 x GCR = .406

On a relative comparison MTO should be valued at .41 (rounded up) that means the relative price of Osisko should be half because it has almost twice (SOR) the shares outstanding (7.80/2)=3.90. That would make it as oversold as MTO with the shares out.

That’s with Osisko moving more ore and using more energy… but producing more gold. Both of these companies are in the same province. Also, both of these companies are considered oversold at today’s prices.

GWH