RE:RE:Soma Gold ChartP/E ratios really don't apply in the mining space. Miners are valued primarily by cash flow and ounces in the ground. If those ounces in the ground are not in production, their value is heavily discounted. Those producing mines with 43-101 resources have the contained ounces with much higher value and add to the market cap. Soma is lean on inground resources that are proven. However, they've been drilling their brains out all year. Likely next year those ounces will be added to their resources.
The best way I think we can value Soma is via cash flow (they report EBITDA). They are presently running at forward annual EBITDA of C$40 million. Cash flow multiples of the small miners appear to run between 2 - 4. That suggests a market cap of C$80 - C$160 million. Soma will not get the 4 multiplier due to their limited in-ground resource base. However, their very low AISC per ounce (hence high cash flow and earnings per ounce) suggests a 3 multiplier is appropriate.
Monday, 5.5 million Warrants expire with a strike of C$0.66 so let's assume shares outstanding is 97 million. Fair value is C$120/97 million or a share price of C$1.24. Conservative value with a 2X multiplier is C$0.82.