valuationGeezers posted valuations appear to be based on production ounces (correct me if I'm wrong) but as I read the posts, the calculations were --> ounces produced per year x recovery rates x price of gold. We are far from production, but I would expect those calculations to not apply to our current situation (but I may be wrong)
ESM itself seems to be basing valuation on an assumed price per ounce of gold in the ground (total resource) which today would be appear to be around $3 (10M ounces x $3 = our market cap)
All of that said, there is also the 'lifecycle of a mine) which shows the price shooting up upon discovery, going way down during the 'boring' development phase and then steadily higher as production approaches.
So for me, there is no doubt the value that Rovina commands...it is just a question for me of when.
And back to ESM's presentation showing how undervalued we are...I could argue that today/now, if the market decides that our ounces (total) should command a $30 or $40 valuation, we should amost instantly be a $5 stock.
At the end of the day, it is anyone's guess when our valuation will rise or if it will substantially prior to production...but I would be happy to hear other people opinions of 'when'.