It's the liquidation value of a company calculated by SE/Shrs out. I hope this helps for you.
Also, since you do not understand this type of investment, you may want to consider ETF's as they are leveraged 100 to 1 in your favor. BTW would you like to buy a bridge?
these guys are clowns
hedge way too much
give themselves way too much free stock
look at the share count increase dramatically every quarter, and they keep losing money even with record metals prices