Verdict
Overvalued
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What is Cadillac Mines Corporation (CADY.TO) worth?
Currently $7.82 — 227% premium to Dolphy’s fair value · ● live
Asset / NAV
low confidence in the point estimate
— for this profile, read the range & what the price implies, not the single number
● live · as of 2026-08-20 11:24 · Market cap $2.1B
As of 2026-08-18, Cadillac Mines Corporation (CADY.TO) looks overvalued. Dolphy estimates a fair value of $2.39 versus a current price of $7.82 — a 227% premium to fair value.
Executive summary
Cadillac Mines Corporation (formerly Gold Candle Ltd., renamed May 2026) is an exploration-stage company whose flagship is the historic Kerr-Addison gold project in McGarry Township, Ontario — a mine that produced ~11 million ounces over its 1938-1996 life — and which also carries sulfide/copper/nickel/cobalt and a sizeable Abitibi-belt land package. The company has no revenue, burns ~C$48M/year, holds ~C$73M cash and no debt, and trades at roughly 13.7x book value with a market capitalization around C$2.1B.
At the user's direction I have moved from a gold-only in-situ NAV to a segmented, probability-weighted SOTP: (1) Kerr-Addison gold at peer pre-PEA EV/oz, (2) a standalone nickel/base-metals part, (3) the land package / mineral rights as separate exploration optionality, plus net cash, less an explicit dilution overhang. The result is C$2.39/share (range C$0.75-C$4.90). Notably, the fair value falls versus the prior C$3.71 even though nickel (~$0.15/sh) and land (~$0.14/sh) now add value — because disciplined pre-PEA peer EV/oz multiples pull the gold base case down and dilution is now carried explicitly. A ~C$1.6B enterprise value still implies the market is paying for roughly 11-16 million gold-equivalent in-situ ounces — the bull scenario, priced as the base case. Treat the fair value as the midpoint of a wide, binary distribution.
How we value it
Probability-weighted sum-of-the-parts (SOTP): gold in-situ at peer pre-PEA EV/oz + standalone nickel/base-metals optionality + land-package value + net cash − dilution overhang
Every figure is computed from SEC filings by the analyst’s calculator tools and fact-checked by a second, independent model.
Investment thesis
About Cadillac Mines Corporation
Cadillac Mines Corporation engages in the acquisition, exploration, and development of mineral properties in Canada. It primarily explores gold, sulfide, copper, nickel, and cobalt. The company's flagship project is the Kerr-Addison Project located in McGarry Township, Ontario. The company was formerly known as Gold Candle Ltd. and changed its name to Cadillac Mines Corporation in May 2026. Cadillac Mines Corporation was incorporated in 2014 and is headquartered in Toronto, Canada.
Frequently asked questions
Is CADY.TO a buy?
As of 2026-08-18, Cadillac Mines Corporation (CADY.TO) looks overvalued. Dolphy estimates a fair value of $2.39 versus a current price of $7.82 — a 227% premium to fair value.
What is CADY.TO's fair value?
Dolphy's estimated fair value for Cadillac Mines Corporation (CADY.TO) is $2.39, versus a current market price of $7.82.
Is CADY.TO overvalued or undervalued?
Cadillac Mines Corporation (CADY.TO) currently looks overvalued — trading at a 227% premium to Dolphy's estimated fair value of $2.39.
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AI-generated research by Dolphy for educational and informational purposes only — not investment advice. Figures are computed from public sources and may contain errors.