SP, I'm no expert but I suspect that since the GFC there has been a significant re-rating as to what constitutes value and what doesn't. I guess what I'm saying is that the old enterprise values won't equate to the new ones any more. Unless inflation takes hold, then we may see the old prices again! But I do agree, as you point out, there is significant value in local gold stocks. Could be tested (in general, not MUN specifically) tomorrow though.
MUN Price at posting:
43.5¢ Sentiment: Buy Disclosure: Not Held
