From Midas tonight

junior valuations

Bill,

To follow up my last email, I calculate that average valuations for juniors are still just about $1.00-$1.25/ Ag equivalent oz..

This compares to $4.00-$7.00/oz back at the peak in early 2007, and the low of roughly $0.20-$0.25/oz at the low in late 2008.

Many juniors are closer to their highs than their lows due to advances they have made in the past two years, such as reserve or production increases.

But on average, valuations remain 70%+ below their highs from 3.5 years ago.

Thus, when money truly floods the sector, my first target for the juniors, as a group, is a 3x-4x move up, ON AVERAGE.

A