Sorry, but I could not find Spanish Mountain´s PF.

But,

Spanish Mountain has $21M in cash. Tyhee, $1.6M?

They´re expecting production of 200K/year for 11 yrs based on their PEA,. Tyhee, 100K oz plus/yr. for about 7yrs based on its PF.

They have 3M Au oz resource M&I of 1.5M, Tyhee 2.2M, 1.9 M&I.

Spanish Mountain only has a PEA with No Reserves.

So, why the difference in market cap? Does cash have something to do with it: cash and other things.