The market cap is the resultant of Shares on Issue multiplied by...

The market cap is the resultant of Shares on Issue multiplied by the current Value Per Share.. The total Market Value of a Company. A low MC on an explorer that is holding good land indicates an undervalued stock to me i.e I can buy it cheap. We are just using the capitalisation to value the company in an easy way as well as compare to other companies in the area. The less shares on offer is good for many reasons, indicates Directors are prudent, tight ship, dilution is kept to a minimum, visually appealing, not overcapitalised or structurally loose which can cause issues further down the track etc

Others might have better info than me