how not to value a gold company in my opinion, page-4

troyus sorry I used a similar subject title.

I'm focussing on production and emerging producers here.

all I'm saying is in terms of emerging producers - a stage the pre-producers will also hopefully reach, we need to look at how much of the gold resource will be productive.
it could be a third... or less.

and also how many deposits (and ultimately mines) the resource is spread over and the cap-ex considerations to develop these mines - where the future profits will be used potentially even gobbled up.

just concentrating on production numbers and resource sizes may hide a money pit .. a hole that these seemingly emerging companies with seemingly impressive production numbers - may nevertheless submerge into.