MGO is priced at around 0.1% of the in-ground value of its...

MGO is priced at around 0.1% of the in-ground value of its JORC-inferred resource.

Market cap is around $20 million.
In ground value is around $20 billion.

Yes I know its not that simple, but:

- Resource is expected to double as drilling continues.
- Entire resource is expected to move into JORC indicated category.
- Is shallow - virtually at surface (unlike PMH, MOX etc)
- Grades are improving with more targeted drilling and high-grade zones are being discovered (some of the best holes are not even included in current resource statement).

If anyone knows of a stock more undervalued than this please let me know.