Good idea to consider,,,, The facts.
Lots of doom and gloom. The sale of shares at present level reminds me of the Lemmings Suicide Myth. Worse yet, lots of ignoring the presently known Nuevo Milenio resources and value of same.
DOS HORNOS 1
DOS HORNOS 2
VETA THOMAS
50 grams/ton cut-off
Measured & Indicated*
Gold –----- 48,435 oz
Silver – 7,220,000 oz
Inferred
Gold –----- 18,773 oz
Silver – 1,170,000 oz
----------------------------------------------------------------------------------------
ONCE BOCUS NORTH
ONCE BOCUS SOUTH
20 grams/ton cut-off --- Open pit
Inferred
Gold ------ 24,010 oz
Silver – 7,870,000 oz
---------------------------------------------------------------------------------------
TOTALS – Measured/Indicated/Inferred
Gold -------- 91,218 oz
Silver – 16,260,000 oz
>>>>>>>>The Independent Mineral Resource Estimate employed a cut-off grade of 50 g/t silver for underground resources and 20 g/t for open pit resources. Metal prices assumed were $30.00 per ounce for silver and $1,500.00 for gold.<<<<<<<<
$$$ Dollar value, using assumed values above
Gold –--- 91,218 x $1,500 = $136,827,000
Silver – 16,260,000 x $30 = $487,800,000
$136,827,000 + $487,800,000 = $624,627,000
$624,627,000 / 152,642,916** = $4.09 per share
Assuming an overall profit of 10% for mining of Nuevo Milenio resources we arrive at a value of $.41 per share – Properly managed, 25%+ profit is not unrealistic.
Granted, there are numerous ways to address the numbers presented to us. The method used above is one of many methods available to remove doubt and underscore the value of Nuevo Milenio resources, (known, to date)
*In the event of a Feasibility Study these resources could be moved to Proven & Probable Reserves – Check rules governing this action, you will find I am correct.
**At March 31, 2012, the Company had 152,642,916 common shares issued and outstanding.
NOTE
Drilling on Nuevo Milenio was completed in September 2011.
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