Royalties
posted on
Jan 20, 2008 08:52AM
Royalties are to start from Goldex in the next quarter. AEM is stating an anual production of 170,000/year. That is 700 oz./month for PRB or about 380,000/month for Probe. over a 10 year mine life that is about 46 million dollars. probably a little less because the royalies are for a portion of the deposit. Lets say 35 million over 10 years. managment is probably waiting for this money to spend on mcfaulds. Once the cash flow starts we just have to wait for the results. I for one believe the mother load is on this property based on the former mag maps. The new mag maps we have not seen yet are not going to erase the anomalys that showed up last time. This stock is going to at least 25.00 so hold on and keep the faith. Latch