Gluckstein & Silverspoon (June 22, 2010) Equity Research report, gave a target price (18 month) of $2.70. This was using $75.00 gold in the ground instead of the reports average of $129.57. They also mentioned the egg shaped anomally beneath the A4 Vein @ Zona Central, which will further be investigated as part of the drill program about to come. Who knows, It may also show up as larger when the 2nd part of the Titan survey gets announced? But, lets just do some math on some info we have, and use as conservative numbers as we can:
Gold in the Ground = $75.00 (should be conservative IMO)
Outstanding shares = 120,000,000 (should be conservative IMO)
Grams / T = 2.89 (should be conservative IMO using 1/10 of the Bulk Sampling average of 28.9 g/t)
4/3 X 3.14 X 1/8 X 1450M X 450M X 400M X 2.5T/M3 X 2.89g/T X 1OZ/31.1g X $75.00/OZ / 120,000,000 shares
This conservative calculation = $19.83 / share (This is obviously just math, but it is using some pretty conservative data)


If you used a more realistic price for Gold in the Ground, say $140 (which is 1/10 of the Andean price of $1400), and the anomally is NO bigger (?????) the math then works out to be
$19.83 X $140 / $75 = $37.02 This is all based on the egg anomally no bigger than we know now, only 2.89 g/T, and more shares outstanding than they have (especially since the PP was cancelled)


The math would be pretty easy from there, if the egg is 2X bigger, or 3X bigger, etc, not even counting any of the original 12 High Priority Drill Targets, or any new ones from the 2nd survey. This Math is all just the anomally, and should be conservative numbers IMO





Long SLI, BOW2U