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Message: A little DD

A little DD

posted on Feb 11, 2010 09:57AM

If one looks at the announcement of Jan 7th, 2010, and adds up the Probable, Indicated, and Inferred amounts for Gold and Antimony deposits on Workmans and Pringle Bench, and uses $900/oz gold and $2.75/lb. Antimony the combined resource totals come to approx. $140 mil. Now this area is only 3500' in length by 500' wide and 400' to depth. Very small area of a 3sq. mi. area of claims on the Nolan. With almost 1.5 billion shares outstanding, this area "alone" is worth .10/share. With a P/E of 15, $1.50. Now, at 200-500 tpd production capacity, how much more will be found? Does anyone recall an estimated mine life once they begin the production process. IMHO, production should lead to resource expansion, because if you have read their announcements, the resources get better the deeper you go. A lot of variables will affect share price, but over the long haul this stock has had a SP of between $10 in 1980 and $.005 most recently. Of course all this is for naught if financing is not secured. Always back to financing. I wonder if Mr. Hooper is bringing anything to the table. Is he there to help get financing? Maybe they are looking at a partnership, with a larger mining company that has the capital requirements. Of course this would require shareholder approval, as would any stock splits, as mentioned in the past by other posters. I would ask others for their opinions, but I guess most will go back to financing. Any ideas? What about Mr. Hooper?

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