this does not smell right, page-12

Thanks for detailed reply hal. Need to go through it as not what I'm used to in terms of EV/resource oz valuations. Your example with Regis is weird and doesn't include JORC resource or the price of gold. Most punters understand that the share price is market cap divided by number of shares hal.

From IDC last preso EV/resource for Regis is $270 and IDC $30, so yes Regis is valued per JORC oz at 9x. One reasons we're into IDC is because of that relatively low EV ranking, apart from a looming elephant project. Not sure how you apply gold price, JORC to determine a share price, but will look into :).

In any case, good to see the buy side building again. Next 24 hours...