Simple Calculations by Tanzdevil by Tanzdevil.....here is the link and what was said in the post. Have a great rest of long weekend. Cheers, Dave.
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=CAN&t=LIST&m=28456228&l=0&pd=0&r=0
Folks,
The pumpers/shorter are having a field day here.
They will make money trading this stock i.e. by frightening you time and again to sell.
The bottom line here is that anyone who sold this stock this year is now kicking himself.
As far as how much is this stock is worth, here are the basics.
CAN has 3.5 million ounces, 150 million shares, and the rule of thumb is that gold in the ground is usually worth $75 an ounce.
Quick math:3,500,000 * $75 / 150,000,000 = $1.75 per share.
The differencet here is that:
1) CAN's gold is easily seperated from the ore.
2) African Barrick last month paid an Australian firm $200 per ounce for a deposit in Tanzania.
So, if CAN proves 4 million ounces, the shares are now worth $5.33 (do the math yourself).
Everytime the ore body increases, expect a jump in the share price.
I am sure I will be selling shares at $6.00
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Am off camping for the long weekend....................