With all respect, never use total resource x spot or assumed...

With all respect, never use total resource x spot or assumed price valuations

there are <0.5g/t gold multi billion tonne resources that wont ever get out of the ground in our lifetimes that would have insane values approached that way

much of what you say otherwise about BML's implied upside is true

but a key to that is that it has a much higher value per tonne of dirt that peer projects (the 1.8g/t vs 0.8g/t IVR gold equiv i mentioned before is an example... not the total value of the resource

ev/oz Ag, the avg resource grade and size, and the irr on dfs are your best pointers to relative economic merit vs peers

its bc only a tiny fraction of investors (and often mgt teams) in sub $250m mkt cap stocks know this that you get such gaping valuation opportunities.