better than money in the bank, page-26

Hi willstorm, where do you get your $20 an ounce for inferred and $30 for m&I?
I would use 10% of current gold price for measured and indicated and $30 for inferred which would give a very different valuation from yours. Some time ago I posted a piece on how to value a gold junior from an independent source.
Using 10% and $30 and including the cash, one would get a valuation of around $1.90 a share, which is in accord with the three valuations that have been done.
I don't see the rationale in discounting the cash to zero. Based on previous exploration expenditure and costs per ounce discovered it could yield another 5 million ounces, which is fanciful, or could be used to convert the three million inferred ounces to measured and indicated which would greatly enhance their value, although I couldn't imagine why it would cost that much to convert the resources into reserves. Either way, the cash could be used to greatly enhance the value of CRK.
Looks like the 100,000 seller came back and sold off most yesterday causing some indigestion for CRK. The buyer/seller ratio is quite positive.
I'm not buying or selling at present. I'm holding. Hopefully all the Jeremiahs have sold out by now!