mmn versus paas

mmn still cheap compared to US peers:

US listed silver play PAAS has measured/indicated resources 185millionozAg. Market Cap AUS$2billion= say $10 per ounce

MMN measured/indicated 20millionoz Ag Market cap AUS $110million = say $5 per ounce

I think this is the reason for MMN amazing strength last week. It is still catching up and 35 to 40c seems more likely sooner than later

On a fundamental basis it is hard to justify these market caps unless silver is heading to US$15 oz plus

For those who had forgotten:

GCR measured/indicated around 8million oz Ag Market cap $24 million = $3 ounce. GCR market cap can be justified by other projects , it is not pure silver. GCR has highest leverage to silver at moment using these calculations, but probably a couple of years from production. GCR also showing amazing strength at moment

haven't done the math on BSG