Early days for AUJ.In the exploration and development phase, a price of a gold stock often follows a course that ends up looking like a double-humped camel.

First there's euphoria over exploration results that are better than expected. The stock price rises as investors race to buy shares. Then reality sets in - this gold discovery is still years away from being an actual producing mine. At this point, there's a huge correction in the stock price.

Assuming the company continues down the path to development, its share price drifts sideways until around six months before the first ounce of gold is expected to be produced.

At this point, the stock begins a strong new leg up when a more sophisticated set of shareholders come into the market. Eventually the price drops off and then levels as the speculative money moves on to the next hot opportunity and the company transitions from explorer to producer.

Generally speaking though AUJ should be trading by its market cap.

To simplify things, lets say Augen has 10 million shares outstanding at $1 per share, the company is valued at $10 million. The question any investor should ask is, "Is this company really worth $10 million?"

If the market pays $25 per ounce of gold in the ground, the company should be valued at $25 million. If the company's market cap is only $10 million, it may look undervalued. If the company's market cap is $50 million, it may appear to be overvalued.

For larger gold companies, an investor can measure a company's market cap against its production level, reserve assets, geographic location and other metrics to establish relative valuation. Thats as clear as day in most cases.

As for AUJ...they need to get some attention on the stock.