Steve Nicastro
Contrarian, long only, gold & precious metals, oil & gas

Alexandria Minerals: 1.4 Million Ounces Of Gold In Canada Valued At Just $1

I've come across some ridiculous valuations in the gold mining sector - from miners trading below their overall enterprise value, like Asanko Gold (NYSEMKT:AKG), to a company like St. Andrew Goldfields, a producer whose total resource base in Canada trades at less than $25 per ounce.

However, these companies are expensive compared to the valuation of Alexandria Minerals (OTCPK:ALXDF), a Canadian-based gold exploration company whose assets are trading at around just $1 per ounce - nowhere near the gold explorer average of around $15 an ounce. For example, the website estimates an average of $15 per gold ounce for junior gold industry in December 2013, and B2Gold recently acquired an explorer called Volta Resources...

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