Building Long-Term Value at Mineros S.A.
Investor TV Jul 24, 2026
Summary
The speaker says Mineros' share price has risen roughly tenfold while the company paid dividends and repurchased stock.
Despite that re-rating, the shares trade near 0.47 times net asset value — about half the peak-year multiple.
P/NAV (price to net asset value) shows what investors pay per dollar of a mining company's asset base.
About 30 million ounces acquired in the past six months sit outside reported net asset value.
The speaker treats those ounces as further upside not yet reflected in the current multiple.
Key points on Mineros S.A
- The speaker argues that despite the share price's large re-rating, Mineros still trades at roughly half its peak-year price to net asset value, about 0.47x as of the July 2026 as-of date, with the business performing well enough to keep it at that discount.
- The speaker says roughly 30 million ounces acquired in the past six months are not yet included in net asset value, which he frames as further upside.
- The speaker notes the share price has re-rated significantly, rising about ten times over the period discussed.
- The speaker says the company delivered that ten-fold move while paying dividends and running buybacks, so shareholder returns ran alongside the re-rating.