RE:Aug. 4, 2006 GOLD $652 and Aug. 4, 2006 MXI $1.25You're on the right track but you have to also look at shares outstanding which have also skyrocketed. The freebee of 30 million shares to GRIT was a real killer for valuation here. 30 million shares for literally nothing. I can't recall the number of shares in those first few years but when it traded regularly around .70, I would guess there were 1/3 the number of outstanding shares.....just my gut feeling. I think that could be checked out on old YE statements.
Valuation on a per ounce basis plus some bluesky for Siribaya and Diakha extension would probably put this in the .35-.40 range of value. The unknown is Karita. It has huge potential but no proven value.