I don't see the 1.3M oz gold projections to justify the $2Bn market cap. This company is up 250% since November and the strategy of hedging copper to lower gold production costs will blow up in their face if the price of gold drops $80.
I guess my real issue with these guys is that they are pre-selling copper to raise cash to cover a $12M burn rate but the CEO is taking a $900K salary with another $1M going to other officers.
Meanwhile, the Northern Dynasty Minerals (NAK) executive team save money by taking $57K for the CEO and $43K for the CFO. NAK is sitting on deposits that you could throw all of AUY's holdings into and not notice. NAK's market cap? $500M.
It should be noted though that NAK is a 401K play as production is still 4 years out. I have been buying this on dips for some time, but those dips have been getting more expensive each time!