JUNE 27, 2008
2009 PROJECTED 10X CASH FLOW PRICE MULTIPLE TO CURRENT PRICE
1) Metanor..................5.4
2) Gold-Ore................4.2
3) Alexis Minerals.......3.9
4) Timmins Gold........3.4
5) Gold Resource.......2.9
6) MDN Inc.................2.2
7) ATW Ventures........2.2
8) Jaguar Mining.......1.8
9) Minefinders............1.6
10) Capital Gold..........1.6
11) Western GoldField..1.5
12) Jinshan Gold..........1.5
13) Apollo Gold.............1.5
14) Alamos Gold...........1.4
15) Aurizon Mines.........1.1
16) San Gold.................1.0
17) Kinbauri................(NA)

Alexis Minerals and Timmins Gold were brought to my attention by readers of the Gold Stock Strategist. Both companies are significantly undervalued using a cash flow valuation method and coming in at #3 and #4, respectively, in comparison to their peers.