Many here are familiar with the terminology "Blue Sky" For those of you who are not, here is a definition: "Any intangible portion of a share price above the maximum goodwill that can be reasonably supported through the application of established valuation methodology".
At present we certainly do not have ANY Blue Sky component in our price but surely our land holdings in JBL (much of the most desirable claims) are worth something. Well, we know that they are by virtue of the committments made by our JV partners. The following table was originally posted by "quiz" but I have up dated his original table to include our most recent JV's.
As the table denotes, the value per hectare on average for all the JV's to date is $1,523.00.
Soon enough, we will recognize a Blue Sky component in our S/P through additional "Hits" by ourselves, our JV partners or others exporing in the JBL's.
| Company |
Date of Option |
Hectares |
Total Work Expenditures |
Total Payments |
Year 1 Work |
Year 1 Payments |
Value per Hectare |
| |
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| WSR Gold |
Nov.1 2007 |
3,888 |
$5,000,000 |
$600,000 |
$1,500,000 |
$400,000 |
$1,440 |
| |
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| Hawk |
Nov.21, 2007 |
2,604 |
$3,500,000 |
$540,000 |
$1,000,000 |
$340,000 |
$1,551 |
| |
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| Seafield |
Jan.15, 2008 |
1,555 |
$2,100,000 |
$360,000 |
$600,000 |
$240,000 |
$1,582 |
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| Southhampton |
? |
2,722 |
$3,500,000 |
$600,000 |
$1,000,000 |
$400,000 |
$1,506 |
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| Lund Gold |
Feb. 4,2008 |
2,738 |
$3,500,000 |
$474,000 |
$1,000,000 |
$274,000 |
$1,451 |
| |
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| Intrinsic |
Feb.4, 2008 |
2,332 |
$3,150,000 |
$540,000 |
$900,000 |
$180,000 |
$1,506 |
| |
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| Intrinsic |
Feb. 11,2008 |
3,392 |
$4,550,000 |
$780,000 |
$1,300,000 |
$260,000 |
$1,506 |
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| Bold |
Apr. 2, 2008 |
1,538 |
$2,100,000 |
$240,000 |
$600,000 |
$120,000 |
$1,521 |
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| Passport |
July 16, 2008 |
1,153 |
$1,575,000 |
$270,000 |
$450,000 |
$90,000 |
$1,600 |
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| Totals |
|
21,922 |
28,975,000 |
4,404,000 |
8,350,000 |
2,304,000 |
$1,523 |
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| Notes: All Option agreements for 3 years. NOT retains 50% interest. |
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| As of July 17, 2008 Noront holds interest in approx. 116,800 hectares |
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| J.V's represent 18.8% |
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Cheers,
Milsy1
