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Message: Hardrock Project RBC Research Report
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The analyst is basically saying what we have already discussed. He is giving Premier gold a value of $118 per oz of resource in the ground, and is estimating that they already have about 2 million oz at hardrock even though officially they have announced only 1.1 in their now 6 months old 43-101. He is estimating that within the next 12 months they will be at 3 million oz on this Hardrock project alone. That means a potential sale to a major gold company of 3mx$118=$354,000,000, in cash or stock of companies in the area like Agnico Eagle, Goldcorp, etc. Goldstones would get 30% of that or $106 million, with about 97 million shares outstanding that would be about $1.10 per share on this project alone. If the Brookbank gets sold for another $0.60 per share (500,000 oz X $118=$59 million), and there is still the rest of the company with all those out of commission mines, an old mill with a permit, etc. So Goldstone is easily worth $1.70 within a year, and then if they get lucky at some Key property, it could be worth $3 to $5.
Its hard to see all that in the midst all this talk about Greece and how it could bring down the Euro. Put together a patchwork of socialist and fiscally irresponsible countries and what did they think would happen? Gold usually goes up in the fall, so the picture will be much different then with regards to Goldstone.
What this guy at RBC should be covering is Goldstone since its much more undervalued than PG.
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