Exploration Value

I've come up with a new matric, called "exploration value", which is calculated by dividing the exploration budget for 2007 by the market cap (as of May 11). Here are the results for a few companies. According to this matric, GSS has the largest exploration budget to market cap ratio.

Company Exploration Budget Market Cap Exploration Value

GSS 15m 0.965b 0.015544
NEM 175m 18.54b 0.009439
AEM 40m 4.35b 0.009195
GG* 120m 17.07b 0.007029
AUY 32m 4.95b 0.006464


(*GG expressly stated in its annual report that it will focus on development rather than greenfields exploration or "wildcatting" as it calls it).

If you happen to know the exploration budget for 2007 of any metal company, let me know, and I will compare it in the table above, and send you an updated link.