Junior Gold Miners as a Hedge, which 3 would you hold?, page-39

That's a 90m valuation excluding cash, and 20m cash-flow per quarter. But it is in Africa. NST was valued around 4x cash-flow back when it neared $1 per share, too, except it's in Australia, which has much lower sovereign risk, and nearly 6 months later look where we are.

Remember when IO was booming and Rudd wanted a piece of the "super profits"? When your gold is $2200, the host country will want a bigger slice of the money...

Anyways, none of what I've said is sufficient on its own to negate PRU from anyone's portfolio, DYOR....