AMX exploring in BF currently has an MC=$457M and resources 2.2M oz (Batie West) so its Market Cap per Resource Oz (MC/Res Oz) is 205.
MET has a MC of $65M (SP $0.395). So if we accept that the MC/Res Oz will be similar, this says the markets estimate of its resources is 0.317M Oz.
This seems very low considering the excellent recent prelim drill results at Nabanga, good soil samples at its other sites in BF, and its recently reported good Cu/Au drill results at Mt Isa.
I am guessing its in-ground resources will be shown to be at least 1M Oz. If the market reflected this, the MC would be $205M so the share price would be 205M/(no of shares and opts) =(205/171)=$1.20.
Perhaps I am just an optimist.
MET Price at posting:
38.0¢ Sentiment: Hold Disclosure: Not Held
