Galway Resources Ltd V.GWY

Reverse Engineer?

[SchiffKnowsBest]

We can't reverse engineer those payments to find out how many ounces there are at california as of June 15th can we?  Is that 20% baked in there as well in the payment?

 

Assuming Galway paid 2% for the indicated ounces, is it possible to figure this out?  I don't think it is, but maybe others might be seeing something I am not.

[melone]

Schiff, that was funny. I was thinking the same thing, but in addition to a very good high grade it is a good number of ounces as well. Any way, I guess we waited long enough, we will know as of Monday.  

[Dansul]

Good Morning,   Schiff here is my calculation for the value of the 2% and the Value based on the final payement:   Ok if total payment as follow: $6.6 in cash  7.8M share (to be Calculated as follow)   let say the estimated 1.1M last Dec. today with very conservative calc is 1.5M   1.5M ounces in CALI (1.5m x $400) = $600 or 1.5M ounces in CALI (1.5m x $200) = $300  

[Dansul]

Correction line Case 2= ((98 * 33.9)/2) = $2.617B should of be,   "Case 2= ((98 * 53.4)/2) = $2.617B" My apology and GLTA,   Dan

[CWGriswold]

Dansul/Schiff - this is very difficult to reverse engineer based on info provided:  Here is the wording from the original press release from July 28th, 2009; Galway has acquired 80% of several concessions in the district covering 335.6 hectares. These concessions acquired to date have combined annual payments of US$230,000 and a payout of US$4-9/ounce gold for 80% of the NI 43-101 delineated

[SchiffKnowsBest]

Thanks very much for calculating that out CWGriswold. I am in the camp of 2% based on indicated, and a formula set-out for inferred. I do agree with Red5Luke regarding the financing. I thought at first that maybe there were some kind of a guarantee by a related party to get that kind of funding, but after reading the NR multiple times I think it's clear that the bank sees some sort of cash

[CWGriswold]

Hi Schiff/Dansul, I think I must have missed something along the way.  Where are you getting your formula from?