This is the biggest waste of time I have ever seen! Is this...

This is the biggest waste of time I have ever seen! Is this serious?

There is no way you can do this sort of analysis on an explorer with a couple pages of reported holes over a very large area. This is an exploration stock and you are in it for the discovery and speculation over all the upside that could be.

That spreadsheet is like valuing two 1 million oz gold deposits the same.... just because they are have 1 million oz gold. In reality the metallurgies will different as will the mining costs etc. etc. The highest grade may not be the most economical (look at say CMM!). There is no way enough info on any of those companies to do any meaningful analysis.