RE: 6 million ounces
Frosty:
First, I am not able to verify that OSK presentation said 6 M oz of gold. I wonder any one has. I did hear that Goldboro can have 5+ M oz of gold before, but that was an guestimate without any basis.
Second, from the number specified, I obtained only 4 to 5 M oz of gold depending on the density. If we pick a high density, we will get 5 M oz, but if we pick a low density, we will get 4 M oz of gold.
Regardless, I will be happy if Goldboro can reach 3 M oz of gold (with 50% belong to OX). Using a conservative valuation, I still come up with $.33 (assuming $50 per oz of gold, fully diluted shares). If OX get $80 per oz, the stock should be
.53.