Western Australian explorer/developer inground gold resource average … currently $56p/oz. Just another value to the overall transparent light table to take into consideration, that’s all, nothing more nothing less.
But ignore at your peril and it does show up that that some of the others like BC8 @ $182 p/oz for a smallish gold resource are the highest in the land for explorers/developers, way overvalued … however they only have 70M share on issue, tightly held and a gold resource from surface.
Unlike GML who have currently have 1,304M shares on issue, no so tightly held and gold resources are beneath existing open pits. GML will most likely need a maiden resource announcement of >500,000 oz to justify the current share price. Good luck with the belated resource announcement …
………………………………………………………………………………………………….…… Sometimes the questions are complicated and the answers are simple.
~ Dr Seuss
GML Price at posting:
2.1¢ Sentiment: None Disclosure: Not Held
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