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Signal Gold Inc T.SGNL

Alternate Symbol(s):  SGNLF

Signal Gold Inc. is a Canada-based gold development company. The Company is engaged in advancing the wholly owned Goldboro Project in the Canadian mining jurisdiction of Nova Scotia. The Goldboro Project is an advanced exploration and gold development project located approximately 175 kilometers (km) northeast of the city of Halifax, 60 km southeast of the town of Antigonish, and 1.6 km north of the village of Goldboro, on the eastern shore of Isaac’s Harbour, in Guysborough County, Nova Scotia, Canada. The Company has consolidated approximately 28,525 hectares (285 km2) of prospective exploration land in the Goldboro Gold District.


TSX:SGNL - Post by User

Bullboard Posts
Comment by VillaManyaon Apr 05, 2010 4:27pm
277 Views
Post# 16958052

RE: Back to $1

RE: Back to $1There are just over 50m tonnes of iron bearing rock on the Chilean properties yielding just over 30% Fe = approx 17m tonnes of iron at $120/t giving a gross of $2bn.
I have no idea how much it costs to get this stuff out of the ground - or how long a mine of 50m tonnes would take to give up its riches, but an asset value of $1/share means ANX only needs to get $125m out of the gross proceeds of $2bn - ie 6.25%.
What it needs is a really good partner who is hungry for a deal and doesn't take Lew's pants down..........But if we assume they do a deal similar to the one with NIS but in reverse: give away 60% share in return for a fully commercial mine and we assume that mining costs = 60% of revenue the numbers go like this:
50t x 30% yield x $120/t x 40% gross profit x 40% share = $288m or $2.30 per fully diluted share.
If PC gets written into the share price it should be good for quite a bit: 60% share of 200,000 oz at $600/oz in profit/oz = $72m or approx 75c per fully diluted share.
If there is an announcement of a deal with a Chilean major and they get PC up and running we should be in for a good ride during the 2nd half of this year.
Bullboard Posts