RE: RE: Wise Guy That is a classic move.. Just so I get this straight, you wrote that comment in order to insinuate that the AFA story is a fraud, correct ?
And you did that why ?, could it be Just so you can re-start the classic trash and cash routine.
Now coming from you, a poster that uses many names... (Let see if I remember all your other names, Kiityday and a yes Franjull)... is truly ironic..
Please don't let the fact stop you...
First of all, there is an analyst report that give a value to diamond play, and that value is 26 cent per shares, and second, your are re-hashing the same argument that Franjull used about the value of the Copper play.
Now for those that do not yet see how the value will come from the copper play, let look at the facts.
Haib copper is a large copper project. The historical resources (pre-43-101) is about 4 billions lbs of copper. In 2008 teck signed an option agreement to acquire a 70% interest in the project by spending 2 million dollars in exploration by Dec 2012. There goal in investing the 2 million dollars in exploration was to see if they could see a way to both the size and grade of the project. Base on what they discovered, they decided to exercised the option 16 months early and they are now planning a massive drilling program to accomplish there goal.
Were are talking here about teck guys, not Joe blow mining...
Now the question always seem to be were does the $ 15 million value come from and when will that value be realized. Now that is pretty simple, historically, copper project are sold at a price per lbs in the ground... and over they last years, African transactions have been done at an average value of .135 C per lbs of Cu.
Now, what Afri-Can has done when valuating the project is that they have assigned a value of 2.5 C per lbs of Cu in the ground to the haib project at this time. Therefore, by taking 4 billion lbs * 2.5 C per lbs of Cu, you obtain a value for 100% of the haib project of US 100 M dollars
Now since afa has a 15% interest in the project, you get a present value of the project of 15 M dollars... AFA is not talking about the future value of the project. That number represent the present value that will be realized when AFA finalize the listing of the spin off during start of 2012.
Now, you can chose not to believe this, but it does not change those facts...