Valuation of just the low grade bulk tonnage

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Valuation of just the low grade bulk tonnage

in response to

Back of envelope calculation.....

Oracle

posted on Feb 04, 2010 07:37AM

Using the Quinton’s volume stated in the “Beyond the Press Release” The bulk tonnage halo at North Stock is now “at least” 450 meters long * 200 meters wide*500 meters deep. In all dimensions it remains open. Using those dimensions assuming a cube and applying a grade of .8 g/t I come up with the following:

	grade	0.8	g/t
area	width	450
	length	200
	depth	500			tonnes
		45,000,000	cubic meters	135,000,000
		3,468,960,000	value
		130,000,000	# shares F/D	oz
		1.00	option interest
		$27	value/share	3,153,600
		0.9	discount
		$3	DISCOUNTED NET PRESENT VALUE

		135,000,000	tonnes
		3,153,600	oz
		$100	buy out/oz
		1.00	option interest
		$315,360,000	take over price
		$2.43	price/share F/D