OTCPK:IAUFF - Post by User
Comment by
rockresearcheron Sep 30, 2010 5:36pm
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Post# 17514458
RE: RE: RE: website......
RE: RE: RE: website......They have said that Pausens was due to run out of ore in February of 2011so to sell it for A$40 million now and walk away from any liability -- especially when the market was NOT giving IAU any sort of producer multiple -- struck me as a win.
Not counting the 3.3 million ounces gold equivalent already established, they have just delivered (NI 43-101 compliant) 500 million tonnes at .4% cu and .5 g/t Au is equivalent to about 20 million ounces of gold OR about 8 billion pounds of copper and this is a loser??? The Company believes they will be able to increase this to at least 1 billion tonnes at similar or better grades within six months. They have over US$40 million in the bank, and that will grow even though they are turning four or five drills because of money coming in from their Paulsen's sale. My belief is that the market was guessing at this 500 m/t target and had already built into the s/p -- which has tripled in the past three months in anticipation -- so this is a pause. From here though, there are more drill results coming and the next resource number.
Yeah, I could be way off on this, but I believe in this one.