Ann: Ternera Mineral Resource increased by 66% to 1.1Moz, page-112

Basically, Corgi, an ounce of gold in the ground is an ounce of gold regardless of how it is valued. I agree with some of your sentiment but you seem to be attempting to make it all seem very complicated as a way of showing your knowledge. If there is an ounce in the ground, then surely the value is defined by the cost of extracting it to a refined state along with the POG that applies within one's timeframe?

"EV/Oz is a byproduct metric based on the financials of each respective project/company". Help us God. You must be a consultant because
only only a consultant would come up with a statement like that. I assume that by "byproduct metric" you mean the other minerals in the ore that can be extracted economically and sold at a profit. I thought that you would realise that this is included in the AISC and, AIC figures. And herein lies a problem because without a feasibility study at one level or another, we are left guessing as to what the infrastructure, and extraction cost figures will be.
How could anyone be so simple as to think that one resource could be compared to another on an ounce for ounce basis without consideration given to the surrounding factors such as byproducts, infrastructure, politics/jurisdiction, water rights, labour, etc, etc.

Once explorers (ie no feasibility study in place) are included, people will find that there are a number of goldies to consider on a valuation basis with TSO; difficult as it is when there is no FS and no reserve figure to use.