RE:Share valuationI forget exactly where I saw that figure, but remember that this formula is a very rough estimate. It does not take into account a lot of factors such as company debt levels, cost of extracting resource, fluctuations in the price of gold, general investor sentiment etc.
I think that this formula is more to give you a general ball park idea of where the stock price should be based on the number of ounces the company has in the ground. I would simply assume the calculation should be in CAD so that it comes out with a more conservative estimate thereby leaving you less disappointed should things not work out.