Recent news release Cordoba reported their assay grade which is the highest seen.

” Initial inferred resources at Alacran are 53.5 million tonnes of 0.70% copper and 0.37 g/t gold.”

“ACD036:

0.90 meters (m) @ 4,440 g/t gold (Au) + 10.25% copper (Cu) + 24.70% zinc (Zn) + 347 g/t silver (Ag)”

Disregarding CU from the calculation gold grade number is very attractive.
0.37g/t X 53.5 m tons X .85 (recovery)/31.1g per oz= 541,000 oz of gold

Gold price at 1200. Market for this gold is 540,000 X 1200= $640,000,000.
Cordoba outstanding share = 64,000,000 and share price is $USD 0.90
Cordoba Market cap = 64,000,000 X0.90= USD $ 57 mil.

Per indicated resources valued at $640 mil and Market cap only $57 mil stock has lot higher to run. One is getting underground gold for $105/oz.
So currently resources are being priced higher from $10 to $105/oz.

For similar case in the past valuations were topped out around $150/oz unless resources were expanded.

Any 1st tier exploration company starting today and develops their resources to this level one can expect valuations close to this level.