Reserves are larger - here is the reference...Short story: go to end of this post and to the site listed, that has the reserves clearly outlined by the company. >6 miilion gold equivalent. They are greater than indicated by poster, or I am reading it wrong. The value here is extremely low by my calculations. Should trade ABOVE $1.20 sell for that. IMO IF properly organized, and packaged.
The reserves are broken down as per below link by HRG and I believe this is current.
The total gold equivalent is greater than 6 million ounces currently. This does NOT include, what I or probably anyone who reads about Prognoz, would conclude are certainly many more ounces to be proven up. They list here 100+ million ounces of silver, as their portion of the 50% they own. It also does not anticipate the potential to gain 100% control of those assets. In addition, one might expect some increase in reserves from other projects. Bisa an obvious situation to view in this light. In any case, the proven and probable are clearly defined at this page, and as I said seemingly current and greater than your indication. Am I missing something??
Now for value: it is NOT just about reserves, because there are many who claim to have reserves, but no operations to mine them, with years of wait, if EVER to get at them. To wit: approvals, build infrastructure, power, waste, water, and staffing. All this requires a great deal of money and YEARS to get in place.
If you do not like Prognoz, then take it out, and you are left with about 4 million. But certainly Prognoz has some value.
If you value ONLY the 4 million ounces at ONLY $250 per ounce CANADIAN ($200 U.S. aprox.) that is $1 BILLION. So take away the net debt after selling the $35 million worth of Detour shares, and divide it by the number of shares outstanding. Mmmmm do you get something over $1.20???
This for a company selling at .14 per share. Calculate it anyway one likes, but the ounces have a value, especially when they come with infrastructure. AND you will be hard pressed, EVEN without ANY value for Prognoz, to come up with .14 per share! LOL Which again is why I think value asserts no matter how they spin it, and as the price of gold and silver appreciate, it makes the prevailing value even more ridiculous. I am positioned, but if not, I would be buying. I have many winners at this time, am liquid, but have learned MANY times to not get greedy. So this is my take, and I am NOT selling for pennies. Simple as that, because I see value and will wait and see how this concludes or moves forward.
Cheers all. HOLD those shares, the risk reward here is now moving soooo strongly in favor of a higher price, it actually seems silly. I actually can't wait to see if they have the nerve to offer some low ball price, as some speculate, but I am NOT convinced is the case. But of course it could be. That is the game we are in here. But when I see something I value at a conservative price which is 8 to 10 times its current price, I hold. Since nothing has changed here that has not gotten better of late.IMO
Here is the link.
https://www.hrg.ca/s/ReservesAndResources.asp