Aurox Resources is valued at 74c per share. They have 193 million shares issued, and (from their announcement in December 2009), they have 238 mt JORC.
In comparison, YRR has 319 million shares on issue, and 151 mt JORC - but at lower % than AXO.
Let's assume that the recent drilling at depth doubles the YRR JORC to 300 mt.
I am mindful that for any comparison, adjustment would need to be made for AXO's infrastructure, and more advanced ore extraction position.
On the comparative figures above, AXO's value has been determined independently by Atlas to be 74c. IMO, that would place a conservative value of a minimum of 35c for YRR - if they have minimum 300mt JORC - which I believe they do, even if the results of the recent (still early-day) drilling comes up short of that figure.
AVL Price at posting:
3.7¢ Sentiment: Buy Disclosure: Held
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