Valuations for listed Canadian gold explorers with inferred resource ounces from drilling run US$30-50 per inferred ounce. Applying this valuation to ORP's inferred 610,000 ozs = A$24.7 - 41.2 million.
Apply this formula as we are looking at IMHO some very substantial upside resource ounce growth from current and proposed drill programs on defined/ open large tonnage targets.
Reserve ounce valuations jump to US$80-150 per ounce depending on "quality/grade/economics" of those ounces. Understand that Aussie miners do not get the respect and vaulations found in North America BUT some interesting results will quickly change this.
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