Miners

Ratings & Performance

GS on Miners

Buy metals miners, sell consumer durables

CS on Miners…

1. Ratings & Performance Summary

2. Valuation Summary

3. Share Price Performance

4. CS Commodity Forecasts vs. Consensus

5. Gold Performance in Different Currencies

6. Gold Production (2022-2024E)

7. AISC (2022-2024E)

8. P/NAV – 2023E

9. EV/EBITDA – 2023E

10. P/CF Historical Range (10-Year) - Consensus

and more