Edison Investment Research Mining Sector Report: Gold - Valuation Benchmarks are ObsoleteBy Edison Investment Research, PRNE
Wednesday, January 27, 2010
LONDON, January 28 - Edison Investment Research has re-run its analysis to determine
differentiated values for 'measured', 'indicated' and 'inferred' resource
ounces to include the Canadian, Australian and South African markets as well
as the London one. In doing so, it has been able to determine that the
average value of a 'measured' resource ounce globally is US$340/oz, while
that of an 'indicated' ounce is US$159/oz and that of an 'inferred' ounce is
US$34/oz (excluding Witwatersrand ounces). An average ounce is worth
US$158.56/oz, which contrasts sharply with both its cost of discovery
(US$8.81/oz, as determined by leading international accountancy firm BDO) and
a historic benchmark valuation of US$35/oz.
Please click here to view the full report:
This report analyses a total of 132 mining companies listed on the
London, Toronto, Australian and Johannesburg stock exchanges, including
Randgold Resources (RRS), Barrick Gold (ABX), Newcrest Mining (NCM) and
Anglogold Ashanti (ANG).
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