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Geomega Resources Inc V.GMA

Alternate Symbol(s):  GOMRF

Geomega Resources Inc. is a Canada-based company. The Company is engaged in the acquisition, exploration and evaluation of mining properties in Canada. The Company's wholly owned subsidiary Innord Inc, which is engaged in developing technologies for extraction and separation of rare earth elements and other critical and strategic metals from its mining properties and other mining and industrial waste. The Company owns Montviel property, which is located approximately 100 km north of Lebel-sur-Quevillon and 45 km west of the Cree First Nation of Waswanipi. The Montviel property comprises 96 mining claims totaling 5,333 hectares. The project is comprised of 178 cells, for a total of approximately 9,910 hectares.


TSXV:GMA - Post by User

Bullboard Posts
Post by cruisieon Mar 03, 2011 7:37am
565 Views
Post# 18223900

premature back of the envelope valuation

premature back of the envelope valuationA very simple and modest calculation with a lot of assumptions reveals this:

depth 500 meters (eventhough holes end in mineralization)
length 300 meters (distance between the two known holes, so assuming it ends right there... unlikely)
width 300 meters (assuming the same width as the length between the two holes)

density 2.5

value per tonne $500 (eventhough only the Neodymium is already $300 per tonne and docmz calculated all the metal at over US$ 1100 per tonne.....)

gives you a cubed rock worth:

500x300x300x2.5x500=

US$ 62,500,000,000

That is 62.5 billion dollars. With all assumptions on the low side you can see why this discovery is huge, with mineralization open in all directions..

Bullboard Posts