Unless it's a mining startup, the kind I invest in. The ones who have almost finished their mine, and will start producing within the year. I value them using

Unless it's a mining startup, the kind I invest in. The ones who have almost finished their mine, and will start producing within the year. I value them using a good rule of thumb: If they're priced less than cash at bank plus expected earnings within the first year, and their mine plan is solid, then it's a good buy. If they make it through the year, making the expected profit, their share price will triple. A one year old gold mine is priced generally at three times earnings. Occasionally they're wrong AND I'm wrong about the mine plan they had, and the costs of mining each ounce of gold is much greater than thought, the mine runs out of cash in a month or two and everything crash and burns and I lose all I invested in. Or the gold price just falls hard. I've made 30%+ per year for the past several years doing this. Requires a good eye on the reports to figure out if the directors of the company are credible.