EXPM:HRTFF - Post by User
Comment by
BigIsBeston Jun 05, 2016 10:20pm
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Post# 24936357
RE:gold eagle to hrt comparisons
RE:gold eagle to hrt comparisonsI was lucky enough to hold shares in Exall Resources / Gold Eagle from the time of the discovery through until the sale to Goldcorp. Exall Resources held a 50% share in the property and at the end of 2006 it merged with the company that owned the other 50% to form Gold Eagle. For those who may be interested, below are some stats I kept from the date when the discovery drilling results were announced (30 Aug 2005) to the date I sold the last of my shares (31 Jul 2008):
Date | Share Price | No. of Shares | Market Cap ($) | Gold Price ($) |
Exall Resources (50% share): | | | |
30-Aug-05 | 0.39 | | | |
30-Sep-05 | 1.07 | | | |
30-Dec-05 | 1.48 | | | |
31-May-06 | 2.25 | 72m | 162m | |
19-Dec-06 | 4.00 | | | |
Gold Eagle (100% of property): | | | |
28-Dec-06 | 7.90 | 88m | 698m | 632 |
30-Mar-07 | 9.04 | 91m | 824m | 660 |
17-Aug-07 | 4.48 | 101m | 452m | 650 |
3-Nov-07 | 8.00 | 101m | 808m | 800 |
31-Mar-08 | 9.10 | 101m | 920m | 915 |
31-Jul-08 | 12.28 | 106m | 1309m | 910 |
You can see that the gold price increased nicely at the right time and that the number of shares was low. I do not recall there ever being an estimate of the number of ozs sold to Goldcorp but it had to have been north of 5m oz IMHO.
So the number of shares was a third of what Harte has right now. Another point of difference is the Gold Eagle ore starts at a deep level whereas Harte's is at the surface.
So the big question is can Harte prove it has multi-million ozs? And what will be the market value per million ozs?
GLTA