RE: Why the CoW delays- Value of BatuHijauFrom Bonaparte's post
"Sumbawa regency has agreed to buy for US$72.6 million, a 2 percent stake in PT Newmont Nusa Tenggara, which operates gold and copper mines in West Nusa Tenggara."
PT Newmont Nusa Tenggara is owned by Newmont-45%, Japanese interests-35% and Indonesian interests-20%.
If 2% is worth 72.6 million than the company is worth 3.63 billion.
The mine has .9 billion tonnes ore grading .53% Cu and .4 g/t Au.
Casey's rock calculator says the rock is worth 44.7 billion. The company is worth less than 10% of the rock value.
How does this relate to SA?
Say we have .9 billion tonnes of rock grading .3% Cu and .23 g/t Au
A fully operational mine would be worth 2 billion. Hmmmmm....
I'll keep my $1.40 shares that I bought last August but caution is the word for me.
Now that VWIG has lost his critical edge after a 5 minute phone call from JP, I feel obligated to post these numbers.
Go ahead shoot me down.
cheers
harmony305