On March 9 a resource report came out on Eagle 1 deposit and the share price was $1.62. Now metal prices have gone up and our share price is $1.72.
Now compare the metal value of resource of then to now:
Data from 2010 March 9 news release.
Using Kitco Calculator for metal prices (http://www.kitco.com/pop_windows/kitcorockcalc.html).
Indicated resource of 6.9 million tonnes grading:
On 2010March9
Reported Weight @Price $Value
2.04% Ni 44.9lb 9.9/lb 444.51
0.95% Cu 20.9lb 3.36/lb 70.22
1.3 gpt Pt .045oz 1585/oz 71.33
3.4 gpt Pd .117oz 465/oz 54.41
-------------------------------------------------
Total$ 640.46/metric ton
value of indicated $4,416 million
On 2010April14
Reported Weight @Price $Value
2.04% Ni 44.9lb 11.94/lb 536.11
0.95% Cu 20.9lb 3.60/lb 75.24
1.3 gpt Pt .045oz 1727/oz 77.71
3.4 gpt Pd .117oz 545/oz 63.76
-------------------------------------------------
Total$ 752.82/metric ton
value of indicated $5,194 million
Inferred resource of 4.3 million tonnes grading:
On 2010Mar9
Reported Weight @Price $Value
1.42% Ni 31.2lb 9.9/lb 308.88
0.87% Cu 19.1lb 3.36/lb 64.18
0.8 gpt Pt .027oz 1585/oz 42.80
3.4 gpt Pd .117oz 465/oz 54.41
-------------------------------------------------
Total$ 470.26/metric ton
value of inferred $2,021 million
On 2010Apr14
Inferred resource of 4.3 million tonnes grading:
Reported Weight @Price $Value
1.42% Ni 31.2lb 11.94/lb 372.53
0.87% Cu 19.1lb 3.60/lb 68.76
0.8 gpt Pt .027oz 1727/oz 46.63
3.4 gpt Pd .117oz 545/oz 63.76
-------------------------------------------------
Total$ 551.68/metric ton
value of inferred $2,372 million
Summary:
2010 March9 April14
value of indicated $4,416 million $5,194 million
value of inferred $2,021 million $2,372 million
Total for both $6,437 million $7,566 million ( change +17.5%)
Shares 168 million 168million
Per share $38.31 $45.04
Discount to 5% $1.91 $2.25