Junior Companies

On a production basis a “Junior” gold producer is arbitrarily set at a company which produces less than 200000 ounces of gold per year.

On a Market Capitalisation basis a Junior Gold Company is regarded by GoldVal.com as one which has a value of less US$500m.

The list of Juniors that produce gold (or Equivalent) would be similar in either method of categorisation – except for the few companies which produce more than 200000 ounces per year but have a Market Capitalisation of less than US$500m. However, if some production is an absolute criteria for ranking, a large number of listed companies may be excluded from the Junior list.

For now, the list of Juniors being covered by GoldVal.com is arbitrarily cut-off at a Market Capitalisation of approximately US$100m.

Listed "Junior" Gold & Silver Companies - Market Cap $100m to $500m
Listed in Order of Market Capitalization
Includes Au Equivalents
	Company	Exc	Code	Price	Currency	M.Cap.	Annual
				Local		(US$m)	Ounces (m)

1	GOLD RESOURCE	US:OTC	GORO	10.80	US$	498	-
2	IMPERIAL	TSX	III	14.84	C$	495	0.113
3	INDOPHIL	ASX	IRN	1.26	A$	486	-
4	AVOCA	ASX	AVO	1.92	A$	483	0.202
5	GUYANA	TSX	GUY	6.95	C$	445	-
6	MEDUSA	LSE	MML	1.87	Pd	442	0.072
7	INTERNATIONAL MINERALS	TSX	IMZ	4.26	C$	442	0.049
8	INT TOWER HILL	TSX	ITH	7.52	C$	426	-
9	RESOLUTE	ASX	RSG	1.18	A$	422	0.344
10	B2GOLD	TSX	BTO	1.44	C$	395	0.027
11	COLOSSUS	TSX	CSI	5.35	C$	379	-
12	FIRST MAJESTIC	TSX	FR	4.20	C$	378	0.071
13	TANZANIAN ROYALTY	TSX	TNX	4.14	C$	368	-
14	DUNDEE	TSX	DPM	3.81	C$	362	0.117
15	DOMINION	ASX	DOM	3.57	A$	341	0.070
16	MAG SILVER	TSX	MAG	7.05	C$	338	-
17	NEVSUN	TSX	NSU	2.47	C$	337	-
18	OCEANAGOLD	TSX	OGC	1.82	C$	329	0.280
19	PREMIER	TSX	PG	4.00	C$	329	-
20	SIMMERS	JSE	SIM	1.94	R	319	0.183
21	AVOCET	LSE	AVM	1.00	Pd	316	0.113
22	QUEENSTON	TSX	QMI	5.37	C$	314	-
23	KEEGAN	TSX	KGN	7.04	C$	304	-
24	ENTRÉE	TSX	ETG	3.22	C$	302	-
25	ALLIED	LSE	AGLD	0.18	Pd	300	0.056
26	DRDGOLD	JSE	DRD	5.50	R	282	0.229
27	WITS GOLD	TSX	WGR	10.00	C$	271	-
28	CATALPA	ASX	CAH	1.50	A$	270	-
29	US GOLD	TSX	UXG	2.68	C$	267	-
30	WESDOME	TSX	WDO	2.64	C$	258	0.097
31	ENDEAVOUR SILVER	TSX	EDR	4.39	C$	258	0.058
32	LA MANCHA	TSX	LMA	1.84	C$	255	0.070
33	St ANDREW	TSX	SAS	0.80	C$	254	-
34	TANAMI	ASX	TAM	0.07	A$	239	0.051
35	ARCHIPELAGO	LSE	AR/	0.37	Pd	232	-
36	GOLD ONE	JSE	GDO	2.40	R	232	-
37	MINERA ANDES	TSX	MAI	0.87	C$	221	0.155
38	BANRO	TSX	BAA	2.09	C$	216	-
39	ECU SILVER	TSX	ECU	0.75	C$	212	0.010
40	DYNASTY	TSX	DMM	5.45	C$	202	-
41	SILVER LAKE	ASX	SLR	1.11	A$	182	0.047
42	GREYSTAR	TSX	GSL	3.53	C$	181	-
43	PAN AFRICAN	LSE	PAF	0.08	Pd	178	0.099
44	CAPITAL	TSX	CGC	0.93	C$	176	0.054
45	SARACEN	ASX	SAR	0.49	A$	175	-
46	ALEXCO	TSX	AXR	3.90	C$	173	-
47	CONQUEST	ASX	CQT	0.51	A$	167	-
48	NORSEMAN	LSE	NGL	0.59	Pd	164	0.065
49	VIRGINIA	TSX	VGQ	5.60	C$	161	-
50	PATAGONIA	LSE	PGD	0.17	Pd	160	-
51	CLAUDE RESOURCES	TSX	CRJ	1.27	C$	146	0.057
52	SANTA FE GOLD	NY - OTC	SFEG	1.69	US$	142	-
53	EASTMAIN	TSX	ER	1.61	C$	136	-
54	APOLLO	TSX	APG	0.52	C$	134	0.020
55	CLUFF	LSE	CLF	0.63	Pd	125	0.053
56	RICHMONT	TSX	RIC	4.76	C$	121	0.067
57	INTREPID	TSX	IAU	0.30	C$	119	0.076
58	CITIGOLD	ASX	CTO	0.14	A$	112	0.010
59	CENTRAL RAND	LSE	CRND	0.17	Pd	66	-

	TOTALS					16 038	2.917
*Note: Estimates as at 15 January 2010*

It is quite evident from the above list that the value of a gold company is not closely related to the current level of production.

There are several hundred more gold companies that have a Market Capitalisation of less than US$100m and GoldVal.com may extend its review to cover some of these companies.

Any errors or omissions? Please let us know at comment@goldval.com.