Junior Miners: Nevada King
The 100+ gram-meter holes are piling up
One of the metrics analysts use to make sense of mining company drill results is the “gram-meter”, which is calculated by multiplying the grade of metal found in a stretch of core sample by the length (aka “width” or “interval”) of that stretch. 100 gram-meters of gold is generally considered to be a good reading.
When an explorer gets many such readings, that’s a sign they’re onto something big. A prime recent example is Nevada King (NKGFF) a small explorer (just $97 million market cap) that is nevertheless the 3rd largest land holder in Nevada, behind only Kinross Gold and a Barrick-Newmont joint venture called Nevada Gold Mines.