GoldMinerPulse: Canadian Gold Mining Valuations



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Gold Mining Company Valuations For 2010-Mar-11

Gold mining companies, that trade on a Canadian stock exchange, are compared on the basis of their market capitalization per ounce of gold equivalent. For more details on these calculations please see Calculating Mining Company Valuation Process.

Average market capitalization per ounce of gold equivalent: US $88.12.

Number of companies included in the Gold List: 59.

Total gold ounces (all deposits and all classifications): 742.9 M oz.

The gold mining companies in the Gold List, are listed below. A table view of the gold companies, charts showing per company ore value per tonne versus company market capitalization per onuce of gold equivalent and charts comparing gold mining companies on the basis of market capitalization are presented on separate pages.

Market Capitalization per Ounce of Gold Equivalent (in US$)

Click on a company's TSX/TSXV trading symbol to view its full NI 43-101 Metal Valuation Report.

Gold mining company market capitalization versus ore value per tonne,


3day gold chart  

Gold List Change History

2010-Mar-11 added Underworld Resouces Inc. (UW) to the gold list.

2010-Mar-10 updated International Tower Hill Mines (ITH) fully diluted share count and resource count for the Livengood deposit.

2010-Mar-09 updated Nova Gold (NG) fully diluted share count.

2010-Mar-08 updated Nova Gold (NG) fully diluted share count and updated resource counts.

2010-Mar-04 updated Yamana Gold (YRI) fully diluted share count and reserve/resource counts.

2010-Mar-03 updated Premier Gold (PG) to the gold list.

2010-Mar-02 updated San Anton Resource Corporation (SNN) fully diluted share count and resource counts.

2010-Mar-01 updated San Gold (SGR) resource counts for the Hinge Mine and the 007 Zone.

2010-Mar-01 updated Nayarit Gold (NYG) Orion deposit resource counts.

2010-Mar-01 updated Semafo Inc. (SMF) reserves and resource counts for the Mana deposit.

2010-Mar-01 updated Coeur d'Alene Mines (CDM) resource counts.

2010-Mar-01 updated Exeter Resources (XRC) fully diluted share count and Cerro More resource counts.

2010-Mar-01 updated San Gold (SGR) resource counts for the Hinge Mine and the 007 Zone.

2010-Feb-26 added Great Basin Gold (GBG) to the gold list.

2010-Feb-26 updated Coeur d'Alene Mines (CDM) fully diluted share count.

2010-Feb-25 added Victoria Gold Corp. (VIT) to the gold list.

2010-Feb-22 added Rye Patch Gold Corp. (RPM) to the gold list.

2010-Feb-22 updated Seabridge Gold (SEA) fully diluted share count in anticipation of additional shares from the Feb 19th common share offering announcement.

2010-Feb-22 updated Andean Resources (AND) fully diluted share count.

2010-Feb-17 updated Goldcorp (G) to include 70% of the El Morro project.

2010-Feb-16 added Alexandria Minerals Corporation (AZX) to the gold list.

2010-Feb-16 added Nayarit Gold Inc. (NYG) to the gold list.

2010-Feb-16 updated Capital Gold Corp. (CGG) fully diluted share count to account for the Jan 25, 2010 reverse split.

2010-Feb-16 updated Silver Standard Resources Inc. (SOO) fully diluted share count to include over-allotment shares.

2010-Feb-12 updated Silver Standard Resources Inc. (SOO) fully diluted share count, reserve estimates and resource estimates. Removed separate reporting of the Sulphurats project (believed to be part of Brucejack).

2010-Feb-05 updated Goldcorp (G) to add the Canplats Resources Represa deposit resource counts.

2010-Feb-04 updated TVI Pacific (TVI) fully diluted share count with count for the MD&A dated November 12, 2009.

2010-Feb-03 updated Apollo Gold (APG) fully diluted share count and removed Montana Tunnel resource/reserve counts to reflect expected sale closure.

2010-Feb-01 updated Genco Resources Ltd (GGC) fully diluted share count and reserve/resource estimates based on their January 29th press releases.

2010-Jan-29 updated Kinross Gold Corporation (K) fully diluted share count and reserve/resource estimates based on January press releases.

2010-Jan-28 updated Eldorado Gold Corporation (ELD) fully diluted share count and reserve/resource estimates based on today's press release.

2010-Jan-28 updated New Gold Inc. (NGD) fully diluted share count and reserve/resource estimates based on January press releases.

2010-Jan-27 updated Seabridge Gold (SEA) fully diluted share count and updated the KSM deposit resource counts.

2010-Jan-27 updated Silver Standard Resources (SSO) fully diluted share count, updated Snowfield metal counts and added Brucejack metal counts.

2010-Jan-27 updated Claude Resources (CRJ) fully diluted share count.

2010-Jan-26 updated Rio Alto Mining (RIO) fully diluted share count and split La Arena into an oxide project and a sulphide project.

2010-Jan-19 removed Arian Silver (AGQ) from the gold list.

2010-Jan-14 updated Paramount Gold & Silver (FR) fully diluted share count to reflect latest published count from a January 12, 2010 presentation.

2010-Jan-11 updated Goldcorp (G) fully diluted share count.

2010-Jan-11 updated NovaGold Resources (G) fully diluted share count and reserve/resource disclosures to reflect their December 22, 2009 update.

2010-Jan-04 updated Genco Resources Ltd. (GGC) fully diluted share count to reflect December 31, 2009 shares granted towards exploration debt settlement.

2009-Dec-23 for the record, average ore values reported for the Gold List as a whole, were not correct prior to December 23, 2009. Per company calculations and other metrics were not affected and their past values remain unchanged.

2009-Dec-15 updated Claude Resources Inc. (CRJ) fully diluted share count to reflect placement of 12M special warrants.

2009-Dec-14 updated Osisko Mining Corporation (OSK) fully diluted share count and updated resource count for Canadian Malartic project. Also added the Duparquet joint venture project to the Osisko resource count (50%).

2009-Dec-10 updated Rolling Rock Resources Corp. (RLL) fully diluted share count.

2009-Dec-07 added Semafo Inc. (SMF) to the Gold List. Semafo adds 6M oz of gold to the GoldMinerPulse counts.

2009-Dec-07 added San Gold Corp. (SGR) to the Gold List. San Gold has some of the highest grade ore of any producing gold mine.

2009-Dec-02 updated Canplats Resources Corporation(CPQ) fully diluted share count and latest Camino Rojo project resource counts.

2009-Dec-02 updated Rio Alto Mining Limited(RIO) fully diluted share count with the Pervian PP share estimate.

2009-Nov-30 updated SilverCrest Mines(SVL) fully diluted share count and project resource estimates.

2009-Nov-27 added TVI Pacific Inc.(TVI) to the gold list. TVI started copper, gold and silver production at its Canatuan Mine in March 2009.

2009-Nov-27 updated estimate of Exeter Resource Corp fully diluted share count based on November 26, 2009 private placement.(XRC)

2009-Nov-24 added valution for Uranium resource at the Fronteer Development Michelan project (FRG) and the Exeter Resources Husah project(XRC).

2009-Nov-23 updated the outstanding share count and reserve/resource estimates for Exeter Resource Corp. (XRC).

2009-Nov-23 updated the outstanding share count and reserve/resource estimates for Gammon Gold (GAM).

2009-Nov-20 updated the outstanding share count for Rio Alto Mining to account for the anticpated $3M private placement to qualified South American investors (RIO).

2009-Nov-11 added coverage for Galantas Gold Corporation (GAL), the Irish Gold company.

2009-Nov-02 corrected Trade Winds Ventures Inc (TWD) to reflect Block A estimates based on mineral investory unconstrained by pit shell -- see table 28 of the NI 43-101 report dated July 2009.

2009-Oct-19 added Seabridge Gold Inc. (SEA) with 61.39M oz in-situ gold and 5.17M t copper (69% Measured + Indicated).

2009-Sep-24 added Exeter Resources Corporation (XRC) with 21.25M oz in-situ gold and 155M oz in-situ silver (96% Inferred). Also renamed Canadian Gold Hunter to NGEx Resources Inc. (NGQ) per their September 21st News Release.

2009-Sep-14 added Aura Minerals Inc. (ORA with 7.58M oz gold (24% Proven+Probable, 65% Measured+Indicated and 12% Inferred)

2009-Sep-10 added Detour Gold Corporation (DGC) and
Queenston Mining Inc. (QMI)

2009-Sep-08 added NovaGold Resources Inc. (NG)

2009-Sep-04 added Esperanza Silver Corporation (EPZ)

2009-Sep-02 added International Tower Hill Mines (ITH)
and Northern Dynasty Minerals with its massive Pebble project(NDM)

2009-Sep-01 added Andean Resources Limited (AND)

2009-Aug-31 additions to the Gold List:

These additions increased the total in situ ounces of gold tracked by approximately 9% and increased the average gold grade to 0.751 grams per tonne (from 0.699).

2009-Aug-24: High River Gold (HRG) was added into the Gold List effective August 24th. OAO Severstal owns 61.7% of High River Gold.

2009-Aug-20: Eldorado Gold was added into the Gold List effective August 20th. Eldorado Gold (ELD) increased the Gold List in situ gold totals by 23.23M ounces. Eldorado Gold changed the Gold List average grade to 0.699 grames per tonne (up from 0.680 g/t).


Please see our Canadian gold mining company web page for more metrics on the silver miners presented above.

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