RE:RE:RE:RE:RE:Share Price In terms of $ per ounce of resource, junior valuations are all over the place and always have been. In the last 10 years I've seen some juniors selling for less than the cash they have in the bank, and others taken out at over $200 per ounce - one even (Gold Eagle) taken out for over a billion dollars before it even had a resource estimate.
Obviously there are factors other than the size of the resource that determine how these companies are valued, and I agree with you, Ridge, that Marathon has all those other factors working in it's favour. I was a bit concerned about strip ratios at the Victory deposit, but the recent results from the Marathon deposit look great in that respect too. I expect it will wind up bigger than Victory shortly.
Marathon's "discovery costs" are in the range of $10 per ounce. So even at the very low resource valuation of $20 per ounce, we're making money every time we drill a hole and add to the resource. The longer we explore the more we'll make.
The gold is there.