Bullion is unforgiving. ;^)
OTOH, among gold stocks, the junior developers have lagged the producers and also the large developers.
See if you can spot the bargains from this spreadsheet:
I hate to think how this will post. The last number in the stream of figures and info contained in each company's listing is the US$ Market Cap/oz of gold in the ground. The sector average is $36.79. Since the comparative value of gold in situ for producing miners is from $100-200, one can see the potential in these puppies. Sorry about the formatting - I sorted it out a little at the beginning and highlited the US$ MarketCap/oz of gold for the first few - anyone interested can figure it out.
GOLD IN SITU SPREADSHEET Figure 23: Gold In situ valuation spreadsheet
Sh o/s Price C$ Mkt. Cap Sum oz/co Mkt Cap/oz Mkt Cap/oz Company Sym M Dec 8/05 $M Project Name Country Au M Oz M/oz C$ M/oz US$
American Bonanza BZA 74.33 0.58 43.11 Copperstone US 3.035 14.21 11.72 Fenelon Canada Gold Bar US Northway Canada Taurus Canada
Anatolia Minerals ANO 41.00 1.80 73.80 Cukurdere(Copler) Turkey 5.504 13.41 11.06 Tunceli Turkey
Arizona Star Resources AZS 40.41 6.50 262.67 Cerro Casale Chile 5.693 46.14 38.07
Atna Resources Ltd. ATN 40.30 1.91 76.97 Pinson USA 1.227 62.73 51.76 Aurizon Mines ARZ 102.44 1.40 143.42 Casa Beradi (West Mine) Canada 2.586 55.46 45.75 Axmin Inc. AXM 121.30 0.57 69.14 Bambari/Passendro CAR 3.271 21.14 17.44 Main CAR Kofi Mali Canarc Resources CCM 57.30 0.41 23.21 New Polaris Canada 1.3088 17.73 14.63 Bellavista Costa Rica Benzdorp Suriname Sara Kreek Suriname Comaplex Minerals Corp. CMF 38.50 2.83 108.96 Meliadine West Canada 1.218 89.46 73.80 Meliadine East Canada Committee Bay Resources CBR 28.70 0.51 14.64 Three Bluffs Canada 0.188 78.03 64.38 Cumberland Resources CLG 54.80 1.91 104.67 Meadowbank Canada 4.870 21.49 17.73 Meliadine West Canada Meliadine East Canada Desert Sun Mining Corp. DSM 73.28 2.47 181.00 Jacobina/Bahia Brazil 3.804 47.58 39.25 Etruscan Resources Inc. EET 67.69 1.43 96.80 Samira Hill Niger 2.468 39.23 32.36 Youga Burk Faso Agbaou Cote d'Ivoire European Goldfields EGU 111.75 2.44 272.67 Certej Romania 14.577 18.71 15.43 Olympias Greece Skouries Greece Stratoni Greece Gabriel Resources GBU 146.40 2.55 373.32 Rosia Montana Romania 23.075 16.18 13.35 Bucium Romania Gammon Lake Resources GAM 72.40 11.30 818.12 Ocampo Mexico 7.296 112.14 92.51 Ocampo UG Mexico Glencairn Gold Corp. GGG 154.40 0.38 58.67 Bellavista Costa Rica 1.697 34.57 28.52 El Limon Nicaragua La India Nicaragua Golden Queen Mining GQM 60.95 0.41 24.99 Soledad Mtn California 1.838 13.60 11.22 Gold Reserve Inc. GRZ 35.80 3.43 122.79 Brisas Venezuela 12.067 10.18 8.40 Great Basin Gold GBG 86.29 1.60 138.06 Ivanhoe Nevada 12.659 10.91 9.00 Burnstone S. Africa Greystar Resources Ltd. GSL 32.70 7.70 251.79 Angostura Colombia 10.713 23.50 19.39 IMA Exploration Inc. IMR 43.56 3.36 146.36 Navidad Argentina 4.750 30.81 25.42 Intrepid Minerals Corp. IAU 46.01 0.58 26.69 Casposo Argentina 0.941 28.36 23.39 San Cristobal El Salvador Jaguar Mining Inc. JAG 31.06 3.55 110.26 Sabara Brazil 3.188 34.58 28.53 Santa Barbara Brazil Paciencia/ Rio de Plata Brazil Turmalina Brazil Kirkland Lake Gold KGI 40.86 4.27 174.47 Macassa Properties Canada 1.974 88.40 72.93 Metallica Resources MR 82.69 2.36 195.15 Cerro San Pedro Mexico 8.167 23.90 19.71 El Morro Chile Metallic Ventures MVG 51.25 1.64 84.05 Esmeralda US 7.056 11.91 9.83JUNIOR MINING Weekly 20 Figure 24: Gold In situ valuation spreadsheet Sh o/s Price C$ Mkt. Cap Sum oz/co Mkt Cap/oz Mkt Cap/oz Company Sym M Dec 8/05 $M Project Name Country Au M Oz M/oz C$ M/oz US$ Minefinders Corp. Ltd. MFL 36.52 5.70 208.14 Dolores Mexico 5.839 35.65 29.41 La Bolsa Mexico Minera Andes Inc. MAI 71.10 0.39 27.73 Huevos Verdes Argentina 0.371 74.72 61.64 Saavedra W. Argentina Miramar Mining MAE 159.70 2.33 372.10 Hope Bay Project Canada 6.317 58.90 48.59 Mundoro Mining Inc. MUN 25.94 1.68 43.58 Maoling China 5.703 7.64 6.30 Nevsun Resources NSU 76.46 2.17 165.92 Bisha Eritrea 4.865 34.11 28.14 Tabakoto Mali Segala Mali Novagold Resources Inc. NG 72.00 10.68 768.96 Donlin Ck US 19.297 39.85 32.87 Nome Gold US Rock Creek US Shotgun US Galore Creek Canada Copper Canyon Canada Orezone Resources Inc. OZN 108.00 2.14 231.12 Essakan Burkina Faso 2.491 92.79 76.55 Sega Burkina Faso Kerboule Burkina Faso Bombore Burkina Faso Golden Hill Burkina Faso Bondi Burkina Faso Pacific Rim Mining PMU 79.30 1.03 81.68 El Dorado-Minita El Salvador 0.869 93.94 77.50 Coyotera El Salvador Nueva Esperanza El Salvador Palmarejo Gold Corp. PJO 63.90 4.10 261.99 Palmarejo-Trogan Mexico 2.864 91.49 75.48 Seabridge Gold Inc. SEA 27.65 8.25 228.11 Courageous Lake Canada 16.356 13.95 11.51 Kerr Canada Sulphurets Canada Red Mountain Canada Grassy Mountain US Quartz Mountain US Hog Ranch US Castle/Black Rock US Semafo Inc. SMF 90.18 1.87 168.64 Samira Hill Niger 3.418 49.33 40.70 Mana (Wona and Nyafe) Burkino Faso Kiniero Guinea St Andrew Goldfields SAS 254.70 0.13 31.84 Stock Complex Canada 0.999 31.88 26.30 Nixon Fork US Southwestern Res. Corp. SWG 43.00 10.75 462.25 Boka China 4.438 104.16 85.93 Tyhee Dev. Corp TDC 41.90 0.13 5.45 Discovery - Ormsby Canada 1.545 3.53 2.91 Nicholas Lake Canada Viceroy Exploration Ltd. VYE 41.70 4.69 195.57 Gualcamayo-QDD Argentina 2.014 97.12 80.12 Amelia Ines Argentina Vista Gold Corp. VGZ 13.67 5.98 81.75 Amayapampa Bolivia 12.309 6.64 5.48 G. de Los Reyes Mexico Hasbrouck US Hycroft US Long Valley US Maverick Springs US Mountain View US Paredones Amarillos Mexico Wildcat US Yellow Pine US Western Silver Corp. WTC 47.97 12.02 576.60 Penasquito Mexico 14.073 40.97 33.80 San Nicolas Mexico Carmacks Copper Canada Wolfden Resources WLF 50.00 3.65 182.50 Monument Bay Canada 1.079 169.07 139.48 High Lake Canada East Bay Canada Ulu Canada Average of 44 companies 45.68 37.69 Source: Company reports, Canaccord Capital Converse US Goldfield US Source: Company reports, Canaccord Capital
Eek! Sorry, folks. ;^)
Still, among these 43 stocks are a dozen or more that will be huge gainers - 10+ baggers - should gold continue a generally upward-drifting bull trend.
The trick is to pick them. ;^)