Re: Nova - Let me get this straight....
in response to
by
posted on
Oct 11, 2012 09:33PM
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%)
Ha.. you are absolutely right. My bad. I reversed the calc in my head. Since we are getting this 'straight'...
Corrected: $1B / 422M = $2.37 FD share.
I didn't think that earlier comment out as I don't think 3 or 4 drills is going to prove there is a $1B of value there. I dont' really know what kind of value we demonstrated there but I think $1B is a tad optimistic. A lot of other $30M market cap explorers out there with more drills into similar or better zones.
Anyone care to put a figure on Discovery?