Alexco Resource Corp (AXU)

[JDUR]

So $AXU has $204 million in assets and $61 million in liabilities leaving the shareholders equity at $143 mil. At $1.38 share price it has a market cap of $86.6 mil. The latest quarterly report used an average of $28 per ounce of silver. So assuming the shareholders equity dropped proportional to the current silver price of $22 per ounce (21.5%), you can estimate a shareholder equity of $112 million or $1.78 per share. This stock is undervalued IMO.