Where does a valuation of 600 million come from ?
1 Valuation from metals in the ground : This is meaning less unless one has the Net Present Value (NPV) which incorporate capital required, extraction and operating costs projections, to arrive at the net present value. If you have an ounce of gold in the ground worth $1600 but it will cost X amount to get tready to produce, Y amount to mine, and Z amount to transport and receive funds etc, that ounce of gold is worth less than $1600. So using metal in the ground as a valuation is meaningless,and overly-promotional.This is why generally SEC frowns upon such calculations. If their filings get reviewed SEC may look at such press releases and request a retraction.
2 Resources to Market Cap : Some analysts for a quick valuation may look at resources and market cap. ie compare to other pre production companies value divided by resources. However we have no report showing category of resource that is present.
So I am quite interested where this valuation come from ?