RE: ValuationI guess I should have made it clear that Alhambra got its mine back on Sept 15th. So, they only had 15 days of operating activity in the quarterly report. But, the following points in the report jumped out at me:
- Operating costs were $378.67/oz of gold sold.
- The estimated recoverable gold classified as work in progress was
approximately 25,000 ozs as at September 30, 2009
"work in process" refers to gold that has been mined and is on the leach pad and is expected to be recovered within 12 mnths.