Top 20 Valuations
RatingCodeNamePriceValuePotentialResourceSummary
FNTFrontier$0.079$1.5551,868%GoldHave an interesting potentially large Copper Gold discovery in PNG. Worth a look.
PWNPotash West$0.230$2.8471,138%PotashNew listing - potentially huge - but very early days
PEKPeak Resources$0.205$1.995873%REOInteresting rare earths deposit in Tanzania
CVYCoventry$0.075$0.512583%GoldMain interest is the Canadian Cameron Gold deposit
STBSouth Boulder$0.825$4.820484%PotashEritrea half billion tonnes potash
AMXAmpella$0.810$4.009395%GoldWest Africa - Burkina Faso based explorer.
AZMAzumah$0.240$1.018324%GoldWest Africa - Ghana. Good opportunity
LCYLegacy$0.105$0.390271%IronMt Bevan Magnetite Deposit
MGVMusgrave$0.073$0.250242%NickelNew company Huge - 5% of the state - under explored tenements in South Australia.
GMRGolden Rim$0.120$0.409241%GoldNewcomer into West Africa - expanding rapidly.
SMDSyndicated$0.081$0.271234%CopperLarge copper discovery near Mt Isa that has come off the back burner.
MYGMutiny$0.071$0.209195%GoldInteresting Explorer keeps popping up on my radar
GORGold Road$0.195$0.502157%GoldHuge Tenements, High Grade Discoveries, High Production Probability. Highly Prospective.
ABUABM Resources$0.038$0.090137%GoldNorthern Territory - Good prospectivity
WAFWest African Res$0.165$0.351113%GoldShallow High Grades at Boulsa Burkina Faso
AZHAzimuth$0.395$0.75290%GoldGuyana South America shallow high grades 14m thickness
TUCTerritory Uranium$0.140$0.15611%REONorthern territory rare earths play - valuation speculative
PRUPerseus$2.360$2.278-3%GoldWest African Explorer Producer - Ramping Up - Highly Priced
SLRSilver Lake$2.380$2.286-4%GoldInteresting Western Australian based gold producer explorer
FELFE Limited$0.042$0.9822,237%IronMain interest Mt Ida and Mt Elvire Banded Iron in the Yilgarn - No Cash
 
About this site
So you have stumbled across this site and can't quite work out what is going on here.

Well the first thing to note is that it is effectively just a replacement for a spreadsheet that was getting out of control and as such consists of personal notes and valuations for Australian exploration stocks that I use for my own trading. It doesn't really bother me if other people get some value out of it - but on the other hand keep firmly in mind that anything here is my personal view of the world and it is really an investment view not a short term trade view.

The stocks listed are those that have caught my eye. Some because they have made an interesting announcement, others because I have done some metastock scan and wanted to know why they are trending, others because I was curious. If a stock isn't listed it doesn't mean anything. It could be because I don't know about it, it could have too many shares on issue, it could be because it's too big, too hard to value, more producer than explorer etc etc.

The way I work is to go through a companies resource announcements and list their proven up JORC resources and prospective discoveries as separate entities. The new resources are generally speculative or prospective in nature by which I am making a really rough guess based on data the company has published about the area, thickness and grade of any discovery. This is not a science. it is simply a guess at best. To the JORC data and any new discovery data I assign a rough per unit Enterprise Value figure and work backwards via the number of shares on issue to what the value of a company could be if all the stars align, the resource gets proven up and the company doesn't go broke along the way.

What I personally look for is simply whether a company has an extremely high chance of being worth more in the future than it is now. I am not really trying to provide an accurate future price - at least with non JORC compliant data. The "Value" column is simply what it could be worth and the "Potential" what it could return over time based on the current share price if everything goes well.

Where it gets a little confusing is the "Rating" column. This is simply whether I like it or not. Generally I am looking for companies sitting on potentially huge resources, that are not heavily diluted, don't have debt problems with a view of obtaining as big a capital gain as I can as they prove the resource up.

The "Rating" column does not have anything to do with the valuation. Companies could have a low valuation and a high rating simply because I have no way to guess the size of the resource even though it may reasonably be expected to be huge. They could have a high valuation and a low rating because they have debt, or as often occurs with small producers they can't get it out of the ground for less than they can sell it for.

You will note a lot of companies don't have a lot of detail about them in the description. This is simply because all I have done is a quick resource valuation, didn't get excited and haven't taken it any further.

The top 20 are on this page. The full list can be accessed via the Valuation Page from the top menu.

And no I don't do valuations on request.
As context; this site consists of my personal notes and valuations that became too much for a spreadsheet and really needed a database. As such the opinions on this web site are entirely my own and are not a recommendation to buy or sell any of the securities mentioned.

The valuations are based on an Enterprise Value method which does not take into account market conditions, management expertise, mining technologies or other intangibles that may affect the actual value of a company. In simple terms I am assigning what I consider a conservative per unit resource value to published resource data in order to determine if a given company offers value with respect to industry peers.

Do your own research and make your own decisions because I accept no responsibility for your screw ups.
On the other hand you can rest assured that I won't be invoicing you for your successes either. - Brenton Thomas