Rational Investing

	Total Market Capitalization of All Firms	$704,419 mm
	Average Market Capitalization	$39,134 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.0
	Standard Deviation of MM Ratio	0.4
	Average Beta	1.2
	Average EV To Revenue	3.4
	Average EV To EBITDAM	19.4
	Average Price To Free Cash Flow	22.5

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
S32.AX	South32 Ltd	2.07	10,344	2.1	2.7	30	-12	1.1	Jun 20
FMG.AX	Fortescue Metals Group Ltd	1.68	59,729	4.0	16	8.4	26	0.8	Jun 20
5713	SUMITOMO METAL MINING CO LTD	1.66	13,903	0.4	26.0	23.6	14	1.4	Sep 20
LUN.TO	Lundin Mining Corporation	1.41	6,614	3.2	11.5	12.3	15	1.7	Sep 20
CCO.TO	Cameco Corporation	1.36	5,123	3.8	16.5	30	10	0.7	Sep 20
FM.TO	First Quantum Minerals Limited	1.28	12,448	4.2	23	24.8	23	2.0	Sep 20
SCCO	Southern Copper Corp.	1.26	53,425	8.1	29.6	19.9	3	1.2	Sep 20
KAZ.L	KAZ Minerals PLC	1.07	4,696	3.4	7.3	30	5	1.3	Jun 20
NHY.OL	Norsk Hydro	0.98	9,709	0.4	30.1	25.1	-14	1.4	Sep 20
010130.KS	KOREA ZINC INC ORD	0.81	6,607	0.0	23.2	12.4	8	0.6	Sep 20
RUS.TO	Russel Metals inc	0.81	1,157	0.7	23.7	11.9	-33	1.6	Sep 20
RIO	Rio Tinto Plc	0.75	131,469	3.3	11.8	9.9	5	0.9	Jun 20
GMKN.ME	GMK Noril`skiy nikel` OAO	0.74	55,684	4.3	99	30	11	0.8	Jun 20
FCX	Freeport Mcmoran Copper & Gold	0.72	44,027	3.3	30.4	12.1	23	2.0	Sep 20
RIO.AX	Rio Tinto Limited	0.68	267,603	6.3	17.0	13.8	4	0.6	Jun 20
LIF.TO	Labrador Iron Ore Royalty Corp	0.59	1,643	8.5	10.3	14.3	8	1.4	Sep 20
BOL.ST	Boliden AB	0.56	9,640	0.3	13.4	10.4	8	1.2	Sep 20
POLY.L	POLYMETAL INTERNATIONAL PLC	0.47	10,598	4.3	14.0	30	29	0.8	Jun 20