In respect to the valuation of Prophecy Platinum, it's pretty easy to show just how undervalued this stock is. Reviewing the company's presentation, and considering only the Wellgreen deposit, they show the following:

12M oz (indicated + inferred) of Platinum Group Metals (PGMs) plus gold. The 12M oz is divided approximately as follows:

Platinum......44.2%

Palladium.....32.7%

Gold..........23.1%

Using today's metal values, this makes an ounce of the PGMs plus gold worth ~$1,200 an ounce. Multiplying by 12M ounces, the gross in situ value of the precious metals is $14.4 billion.

But the precious metals are just a small part of the total value (about 33%).

Wellgreen also contains 2.4B lbs of nickel worth $20.6B. In addition, Wellgreen also contains 2.2B lbs of copper worth $7.5B. So, adding these up:

PGMs+Au.........$14.4B

Nickel..........$20.6B

Copper..........
7.5B

Total...........$42.5B

The resource at Wellgreen will almost certainly grow, but just using the total in situ value of $42.5B and a fully diluted share count of 64M, we get a per share value of $664. In other words, buy a share of Prophecy Platinum at $2.42 and you get $664 worth of in situ metal. If we assume that Prophecy Platinum might sell for just 5% of the value of the in situ metal they have at Wellgreen, a share would be worth $33!! That's better than a 10 bagger from where it's currently trading. There are other factors that could improve these numbers: (1) The current drilling program at Wellgreen will almost certainly increase the total resource. (2) Wellgreen contains metals like rhodium, cobalt, silver, and cesium which are not included in this estimate. (3) Wellgreen also contains recently discovered high grade massive sulfides which could dramatically change the value projections. The massive sulfides could run $1,500 a tonne or more. The current drill program will (in part) attempt to expand the massive sulfide discovery.