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Colibri Resource Corp V.CBI

Alternate Symbol(s):  CRUCF

Colibri Resource Corporation is a Canada-based mineral exploration company. The Company is focused on acquiring and exploring prospective gold and silver properties in Mexico. Its projects include Evelyn Gold Project, El Mezquite Gold & Silver Project, Pilar Gold & Silver Project, Diamante Gold & Silver Project, Jackie Gold & Silver Project, and Plomo Gold Project. Its Evelyn Gold Project is located in the Caborca Orogenic Gold Belt and covers an area of approximately 506 hectares (ha). Its El Mezquite Gold & Silver Project is located in Sierra Madre-Yecora Area, Sonora, approximately 10 kilometers (km) northwest of Tepoca, Sonora Mexico and 175 km east-southeast from Hermosillo. This project covers an area of approximately 180 ha. Its Pilar Gold & Silver Project is located in Suaqui Grande-Sonora. It has optioned 51% of Pilar Gold & Silver Project to Tocvan Ventures. Its Diamante Gold & Silver Project covers an area of approximately 1057 ha in Sierra Madre-Yecora area.


TSXV:CBI - Post by User

Bullboard Posts
Comment by stubbson Apr 10, 2002 2:00pm
227 Views
Post# 4990062

RE: At Long Last

RE: At Long LastI'm back You missed the important point(or maybe I did) "Thereafter, an additional payment to Argosy of US$12.5 million, plus a final payment of an agreed 20% of the Net Present Value of the project, will result in Norilsk earning a 90% stake in the project, with SMT holding the remaining 10%". You are right CBI will not happing overnight nor am I suggesting $10.The caculations giving to me on the 20% purchase of Argossy's NPV was $2.75 per share.That would equate to $5.5 for CBI and that is with our property being the same size(may I suggest we will be bigger and better).As far as Argossy's share price it wont catch up to the offer untill the 18 month's work is complete.No one should pay this NPV price as much can happing during those 18months(like new processes).The only way it would happing overnight for any Jr.is with a straight buy out.IMO Stubbs
Bullboard Posts