Replies to post #12740 on Value Microcaps Junior Miners

[nutsaboutgolf2001]

EXN.TO One of their big costs (both a cash flow and an expense on the income statement) is exploration. I haven't figured out their finding cost per ounce of silver equivalent but it must be very high. Just like an energy company, production cost per barrel is only half the equation, the other is the finding cost per barrel - I use the replacement cost (i.e finding cost) as a better measure than depreciation or depletion.