I'd like to hear your thoughts on this formula to predict the worth of a company in a bull market.
David Morgan (a well respected Silver & PM analyst) said - At the top of the market the formula to value a Gold company is as follows (because P/E ratio doesn’t really work in mining)1/10th of the price of the gold in the ground (indicated NOT inferred) is what the value of the company is at the top of the market.
eg: 1Moz at $250 (1/10th current price AUD) = $250,000,000 MC
I'm interested in your thoughts
A. Do you agree with that statement?
B. With the new ROX drill results still to come, that figure could be very exciting once we progress with more info.
Interested in thoughts on this.
Market Cap Potential, page-46
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