In order to have 700M tonnes of ore, we would need roughly 29 kilometres strike length.
|
700,000,000 |
|
| |
|
| 120 |
depth - metres |
| |
|
| 50 |
width - metres |
| |
|
| 4.00 |
rock density (tonnes/cubic metre) |
| |
|
| 29166.67 |
REQUIRED STRIKE LENGTH |
Based on my calculations, the current value per share based upon 7M tonnes for Eagle 1 is $10.29 as per the following:
| 120 |
depth - metres |
| |
|
| 50 |
width - metres |
| |
|
| 300 |
metres down dip |
| |
|
| 1800000 |
cubic metres ore |
| |
|
| 4.00 |
rock density (tonnes/cubic metre) |
| |
|
| 7200000.00 |
tonnes mineralized ore |
| |
|
|
$ 5,760,000,000.00 |
$800.00 per tonne |
| |
|
|
$ 864,000,000.00 |
15% of in-situ |
| |
|
| 6.91 |
Assume 125M F/D shares |
| |
|
| 1.00 |
Other property values |
| |
|
| 7.91 |
Total |
| |
|
| 10.29 |
30% buy-out premium |
I am obviously making some assumptions here.
1) Michael White would not mention 7M (mistakenly 700M) tonnes if they were not confident in this disclosure.
2) 15% of in-situ utilized as per the rationale given by JSQ in his last post.
3) Assayed grades continue to remain consistent o those reported to date.
Good luck to all those (you know who you are) who are looking to establish a position in the $3.00-$3.50 range. (Or quite frankly anything much below today's current price).
Go Not Go!
Milsy1
(I welcome comments/criticisims)
