Post by
silvereagle80 on Mar 03, 2023 2:18pm
Incredible amount of Gold and Copper in the ground Cheap!
In 1932, FDR confiscated personal gold holdings and raised the value of gold from $20.00 to $35.00 an oz.. In 1971, Nixon went off the gold standard. Our paper money was declared legal tender by our government but had no intrinsic value or fixed value and was not backed by any tangible asset, such as gold or silver. Since then, the gold price has soared from $35. to $1,800. USA's debt in 1990 was $3.3 Trillion, 2000 $5.7T, 2010, 2010 $13,562 T, 2020 $26,945T, 2022 $30,925. If you have a credit card, you know what it is like to pay monthly interest charges on your card espcially if your balance due is increased by 10x..
Jim Rickards, stock analyst and a best selling author wrote a book "The New Case for Gold" about ten years ago that is more relevant today than when he wrote the book. You can pick the book up on the internet for less than $5.00. Rickards explains that as the confidence in fiat paper money falls, gold could go to $10,000 an ounce. and eventually higher. Hard to believe but you probably wouldn't have expected gold to go from $35. to $1,800 either?
As far a I know, Seabridge is the best leveraged stock in the market today. The reason is they have a lot of assets in the ground and Mr. Market gives very little credit for this . If gold does go to $3,000 to $5,000 an oz., |we'll see what you would have with your current $11.00 per share stock. Something has to give..
Seabridge Gold and Copper Resouces
Gold Total Per Share @$1,800 @$3,000 @$5,000
Proven & Probable 54M oz .670oz 1,200 2,000 3.333
Measured & Indicated 100Moz 1.250 2,250 3,750 6,250
Inferred 70Moz .875 1,575 2,625 4,325
Total Resource Gold 224Moz 2.795oz $5,025 $8,375 $13,908
TotalCopperResource62,932Mlbs 731lbs @4.00 lb @$10.lb @$15. lb
$2,924 $7320. $10,380
Significant costs would be necessary to produce a final product. Maybe the only figures we should look at are that the company has 2.795 oz of gold and 731 lbs of copper per share in the ground per the numbers on the Seabridge website and Mr. Market values them at $11.00 a share. If the interest rate goes down and the gold price rises this stock should impress somebody besides me..