Hi Lithos,hope its ok, but just need to correct you with BDCs...

Hi Lithos,
hope its ok, but just need to correct you with BDCs market cap.
They have 1.7b shares, which at $0.084 cents, gives it a market cap of $143m, or... an E/V of $108m.
Which of course, then further translates the resource metrics you mention, to even cheaper valuations.
Also, I think in BDCs case, its more valid to look at their reserves, versus their peers. Then BDC starts looking very undervalued.
Also, I note in regards to KIN, that they are already using a $2000 AUD pit shell cuttoff, unlike BDC which is using $1900.

KIN has zero reserves, and a resource of 945k, which gives it an E/V of approx $84m ~A$88/oz
CAI has 512k in reserves, and 1.25m in resource, with an E/V of approx $128m, ~A$102/oz (reserves ~A$250/oz)
BDC resources 3m ounces, reserves, 790k - E/V of $108m ~A$36/oz, (reserves ~A$136/oz)
For interests sake, here is CMM (resources 2.1m, reserves 1.2m,) - E/V of approx $640m ~A$304 (reserves ~A$533)

Yep... right now, BDC is valued at just 1/9 of CMM on a resource basis. No doubt, CMMs project is a better one, but... 900% better. Not so sure.