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Nuveen California Municipal Value Fund Inc T.NCA


Primary Symbol: NCA

Nuveen California Municipal Value Fund, Inc. (the Fund) is a diversified closed-end management investment company. The Fund's investment objective is to seek current income exempt from both regular federal income taxes and California personal income tax. Its secondary investment objective is the enhancement of portfolio value. The Fund invests in municipal securities that are exempt from federal and California state income taxes. The Fund invests at least 80% of its managed assets in securities rated, at the time of investment, investment grade or, if they are unrated, are judged by the manager to be of comparable quality. The Fund may invest up to 20% of its managed assets in municipal securities rated below investment quality or judged by the manager to be of comparable quality, of which up to 10% of its managed assets may be rated below B-/B3 or of comparable quality. It also invests in inverse floating rate municipal securities. Its investment adviser is Nuveen Fund Advisors, LLC.


NYSE:NCA - Post by User

Post by aweighon Jul 16, 2016 3:03pm
188 Views
Post# 25058911

I thought I would do some # crunching just for fun

I thought I would do some # crunching just for fun to see how many ounces we might find in the areas surrounding our two better holes ( CMM 014 and CMM 054 ) using 25 Meter step outs from each hole and I'm using a specific gravity of 3 !

CCM 014 : 100 M's @ 7.5 grams

50 Meters x 50 meters x 100 meters ( drill intercept ) = 250,000 Cu. meters x 3 tons = 750,000  tons x 7.5 grams = 5,625,000 grams / 30 = 187,500 Oz.

CCM 054 : 33 M's @ 30 grams

50 meters x 50 meters x 33 meters ( drill intercept ) = 82,500 Cu. meters x 3 tons = 247,500 tons x 30 grams = 7,425,000 grams /30 = 247,500 Oz.

Although these are very very rudimentary calculations and may be high because of my use of a gravity # of 3 it's still interesting to see how many Oz.'s we might see on stepouts of only 25 meters given we have such high grades in these two holes. 

If we get lucky in these areas and can build some tonnage, even a little tonnage, our payback of capex would be very much faster than projected now and our current bulk tonnage @ lower grades would be that much more economic.  

Anyway it was a fun exercise but take it with a grain of salt or a gram of gold maybe !

News next week hopefully ! 



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