Actually doing DD is what I am doing now. If you run the current valuations of companies where Au is the primary resource on www.miningalmanac.com you will see that current market valuations range from $40/oz to $60/oz for exploration companies based on M&I and PP&I reserves. In an acquisition this number will go up and I would love to look at the ones that are getting over $200/oz if you wouldn't mind pointing me in the right direction.

I agree it is a speculative stock at this time, but a speculative stock with a market cap of over $200,000,000 which means that either there is a massive find that is about to be announced or a massive drop in shareprice if the valuation is based on IR more than reserves.

Stock valuations, though they may stray far from the industry norm for brief periods of time, revert back to the mean eventually, hence any potential investor is best served by determining where the current value is relative to the mean. In this case, the company is currently valued as if it has around 5,000,000 oz based on today's current market valuations. What I am trying to determine is why it is trading this high with no reserves (hence the speculative tag). It would appear that there must be something rather substantial that has kept a massive shorting effort away as it is a ripe candidate on paper. If that is the case, I am trying to find out what that may be.

In my experience, that kind of of analysis is actual DD, but that is just my opinion. I am however, going through the info on Sedar and on this site as you have suggested. Any additional guidance would be greatly appreciated.

TIA