My valuation
posted on
Nov 20, 2011 03:20PM
CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)
8.5B Copper $2.5 = $21.25B
500m Moly $16 = $8B
8m Gold $1000 = $8B
38m Silver $15 = $570M (1.5g/t?)
About $38 billion/400million shares = $95 a share @8% = $7.60
Add 4 times drilling @ 65cents
Total $8.25
Old projection was $7.87
38 cent gain on the drilling.