as good as it gets?Canaco has done very well, although I would have to attribute a lot of the current valuation to the fact that they have so many major brokerages in the junior sector creating demand for the shares right now while the placement is on. At over 200 million market cap, you have to have a heck of a lot to justify that and keep the share price of a junior explorer up at these levels, not to say that strong drill results will not send it higher.
If you look down into the realm of companies with some great results but no big boys backing them up or giving them any attention you find a company like Northern Tiger (NTR), which has three really promising plays going on this summer, including a large mineralized system now being drilled that could be a massive porphyry just east of one of the world's largest porphyrys at 7 million oz gold and 4 billion lbs copper (Western Copper's Casino deposit). Oh yes, and they also have assays of 4800 g/tonne gold (140 ounces/tonne) from a vein in an unexplored area of the Yukon... but their market cap is not much more than 1/20th of Canaco's. IMO with the same kind of people commenting on them as Canaco now has, the valuation ratio would be quite different.