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Given these positive developments, I believe that Gold Fields can command a 30% premium to its 5-year average cash flow multiple (which is more in line with its long-term average), suggesting a more fair multiple for the stock is 7.3x cash flow.
Gold Fields Ltd is a producer of gold and is a holder of gold reserves and resources in South Africa, Ghana, Australia and Peru.
Source: https://investingnews.com/stocks/nyse-gfi/gold-fields-limited-american-depositary-shares/
Gold Fields, through its foundation, is excited to be contributing to Ghana’s drive toward achieving the Sustainable Development Goals, specifically goals 4.“
In 1880, the British engineering company John Taylor and Sons bought the Kolar Gold Fields and established India’s first industrial gold mine.
In summary, while I would expect reserve growth in 2023 for Gold Fields and see it as one of the better gold producers, I would need a pullback below US$11.50 to become more interested given that the stock would offer a margin of safety at these levels.
The Gold Fields PGA Championship is scheduled for November 29 to December 2, 2023 at Tarkwa Damang.
Source: https://www.ghanamma.com/2023/11/13/barnni-lifts-pga-masters/
The movie is based on a real event in the Kolar Gold Fields decades ago.
We are celebrating over 2,000 such interventions and that is 2,000 lives transformed, and that is a major investment that Gold Fields Ghana Foundation has made which deserves appreciation.