For subscribers

Standard GoldNerds Spreadsheet

This product is designed to help smaller investors who want to know which of the gold companies have the basic characteristics they are interested in, and for buying gold while "in-the-ground". The Standard Sheet does not include cash, options, financial data, or enterprise values (EVs)1. In most cases the market cap is a good simple substitute for EV's (see below).

The Standard Spreadsheet includes

  Company Code   Market Cap1   Market-cap-per-reserve-oz3  
  Company Name   Reserves   Market-cap-per-resource-oz  
  Share Price   Resources   Market-cap-per-mineable-oz  
  Shares on Issue   GoldNerds Potential2   Cash Cost (current & planned)
 
  Minerals
  Hedging Details   Production (current & planned)  
  Percent-in-Gold   Mineable Gold   Market-cap-per-production-oz  
  Percent-in-Silver
  Historic Share Price
  Headquarters state
 
  Status (E, D, P)
  Sovereign Risk   Score
 

Features

Slice and Dice the data
Sort, score, filter the numbers, and view the comments. They're described in more detail on the Toolbox page.

  camera.gif camera.gif camera.gif camera.gif   Click on the cameras
  Sort Score Filter Comments    
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Country Risk
We use sources like the Economic Freedom Index by the Wall St Journal and the Heritage Foundation, and ratings from the Fraser Institute, to estimate the sovereign risk of countires and states. You can adjust the default risks we set.

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Customise the currency and other factors
Customizable factors include column views, and weightings for estimating 'Mineable Gold'. 

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Metals and Currencies Prices
There is a price updater for gold, silver, and a few currencies.

 

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6 months $169
12 months $279

1. Market Capitalization and Enterprise Values (EVs)

"Market Cap" is the cost to buy the whole company, at the current share price. Most market cap figures quoted elsewhere are often just the cost of the fully-paid shares quoted on the market (which can seriously underestimate the true market cap if there are escrowed shares or in-the-money options). In the Standard Spreadsheet we include unquoted shares and escrowed shares as well. In the professional version we also include and options.

Market capitalization is the main component of, and is usually roughly equal to, EV. But it does not take into account the cash, debts, or other financial assets that the company has, so sometimes there are surprises. We recommend you check a companies balance sheet before buying the shares. EV and other financial information is included in the Professional spreadsheet, but not in the Standard spreadsheet.

2. GoldNerds Potential

Sometimes companies have a lot of drill data, but not enough to qualify for a JORC inferred resource. Sometimes the last resource statement is from an older, outdated standard, or sometimes the deposit is narrow vein, drilling is expensive, and insufficient infill drilling has been performed to declare a resource. In such situations, where exploration is not likely to yield a JORC resource soon, we sometimes note the mineralization as a "GoldNerds Potential". Obviously it's even more of a guesstimate than an inferred resource, but none-the-less it may a guide to what is probably there.

3. Market-cap-per-gold-ounce

The three market-cap-per-gold-ounce columns (per resource, reserve, or mineable ounce) are useful for comparing what it would theoretically cost to buy a share in a company as a proxy for owning an ounce of gold. Owning gold 'underground' is usually far cheaper than buying an ounce at the mint. That reflects the risks involved: how sure are you that the gold is there (is it a reserve, a resource, or a guess?), what will it cost to get the gold out of the ground, and how much is an ounce of gold worth to me if it's in Mali (how 'safe' is it?), will management go bust? The market-cap-per-reserve-ounce is more expensive than 'per-resource-ounce' because there is more certainty in it.

Can't decide which version is right for you? You can always upgrade to the Professional subscription level if you decide you want all the info. Email us to ask. Money paid for the Standard version will be credited towards the cost of the Professional subscription.