RE: bid vs. ask....interesting!Here's a bit of my due diligence, for what it's worth. I own a large number of shares in SLAM, and I'll admit I was tempted to sell yesterday and today, but then I looked at the math again and decided to wait. Based on the 2005 NI 43-101 report for Nash Creek property:
Indicated Resource:
375M lbs zinc @ USD $ 1.80 = USD $675M
67M lbs lead @ USD $ 0.70 = USD $ 47M
3.4M oz silver @ USD $12.50 = USD $ 43M
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Total = USD $765M
Inferred Resource:
139M lbs zinc @ USD $ 1.80 = USD $250M
25M lbs lead @ USD $ 0.70 = USD $ 18M
1.1M oz silver @ USD $12.50 = USD $ 13M
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Total = USD $280M
Which puts a value, on this propoerty only (and excluding the drill results of June 2006 which will expand the Indicated and Inferred resource) of between USD $765M and $1B. Given that the resource is in the ground, and assuming a very conservative 10% to the actual value of the metal once you pull it out of the ground (operating costs, etc.) still leaves a very conservative profit of USD $76.5M - $100M dollars. If we are really lucky, and they expand the resource to 20M tonnes as they expect (thats roughly 5 times bigger than the current resource base of 3.4M tonnes) giving a market value of USD $380M - $500M.
And doesn't include the other properties they have.
Current market cap at .175 is less than $10M ... very cheap.
Good luck to all.
Feedback is welcome.