RE: Junior valuationsI ran the numbers for our unloved Axmin:
Current Market Cap: $50 million
P&P: 1.275 million oz
Measured&Indicated: 0.75 million oz (after subtracting P&P to avoid double counting)
Inferred: 1 million oz
Value of Gold Underground: $248 million ($160*1.275 + $30*0.75 + $20*1)
Implied Growth: 490%