how do you spell undervalued gold stock?, page-4

Did any see the below article yesterday from the SMH?
http://www.smh.com.au/business/local-gold-producers-gain-from-dollars-fall-20100523-w420.html

Below is an extract..

Manas Resources is in to that category. It last traded at 8 a share for a market capitalisation of $9.5 million, of which $3.3 million was covered by cash at bank. It is also about due to release an updated resource estimate for its Kyrgyzstan gold plays, and given the quality of the hits reported during last year's drilling program, no one is going to be surprised if it gets lifted to something north of a million ounces of gold.

That would represent an enterprise value per resource ounce of gold of $6.20 ($US5.12). Compare that to the fancy multiples being applied to ASX-listed explorers in not exactly risk-free west Africa, and it could pay to keep an eye on the foreign pages to see how the Otunbayeva's remake plans are travelling.