how to value a junior gold, page-6

Good luck. In no particular order you may want to look at these (list not exhaustive - aside from IAU all their reserves are in Aus I believe - won't mention those comapnies already mentioned by Emerald and RP)

AAM, EXM, IAU, RMS, IGR, SLR, ALD, ALK, CAH, DRA, TRY, CTO, NQM, FML, RAU, TAM

Also, there is a commercially available spreadsheet put out by Goldnerds which I have never seen. Anyone seen it? Is it recommended? You pay your money and you get an updated spreadsheet every two weeks or so, I believe. It allows you to add different weightings to different criteria - sort of like what you are trying to do but much more advanced. (I can sort of see a couple of geeks working on a great idea for a spreadsheet, it turning into a massive undertaking and then figuring out that there might be a market for this kind of research.)

The formula above seems like a start. Just one thing about JORC - I think you need a weighting for that. There is a vast difference between the lowest level, an "inferred mineral resource" and the highest level, a "proved ore reserve". (I only know this because I recently downloaded the JORC code and I have been scanning through that.) I am starting to realise that a lot of the juniors trade on the former and never get anywhere near the latter. This is starting to worry me, because it means I may be giving my hard-earned to someone who really has no idea how much ore they have and whether any of it can be economically mined!

Most of the juniors listed above have little more than inferred mineral resources i.e. they have no idea if the ore is able to be mined economically. I suggest you don't bet your house on them!

Then there is the BFS - a bankable feasibility study. Still doing my research on that one. Someone with more knowledge than me can tell us what this is for, but I believe it is necessary for project financing.

Plus you have all the other criteria which have been mentioned on other posts here - the five M's, Buffet's (HC poster) own list etc etc.

Myself and others are learning the hard way that making an announcement about an inferred resource of x million ounces does not make a gold (and profit) producing company. But it will be very interesting to see what you come up with, if the task doesn't turn out to be too daunting. Or you could just sign up to Goldnerds! :-)

Hmmm... maybe they'll let us sign up as a syndicate???