OGC vs ORLA

Gold · market cap $5.8b. Down 40% from 52-week high of $43.33 — deep drawdown territory. Revenue growing +46% — in hypergrowth territory. PEG 0.17 — paying under fair value for the growth rate.

Net margin 34% is exceptional — pricing-power territory rare outside premium software, branded staples, and specialty pharma. ROE 35% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Mining moat is reserve quality + extraction cost per unit — top-quartile cost producers generate cash through the commodity cycle while marginal producers burn it.

Down 40% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Beta 1.47 implies above-market volatility — position-size to the drawdowns this name will produce in a market correction, not to its bull-case return. Reserve-replacement treadmill — every barrel or ounce extracted has to be replaced through exploration or acquisition; underspending on replacement reserves shows up in production declines 2-3 years out.

Gold · market cap $3.8b. Down 54% from 52-week high of $21.98 — deep drawdown territory. Revenue growing +208% — in hypergrowth territory. PEG 0.07 — paying under fair value for the growth rate.

Net margin 19% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 42% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 142% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.

Down 54% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Jurisdictional + permitting risk — mining and extraction operations concentrate exposure to political stability, royalty regimes, and environmental review timelines that can stall production for years.