GREY:HRIVF - Post by User
Comment by
prouditalianon Sep 11, 2010 12:37pm
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Post# 17437326
RE: RE: RE: Quick initial thoughts - Bissa FS
RE: RE: RE: Quick initial thoughts - Bissa FSDiscern,
thanks for that. I didn't know about what you mentioned regarding the feassibility study.
I think the production numbers of 450k are way tool high. I get 120 maximum for new Russian mine, 130 max for Taparko. That is 250. The old Russian mines should be cut to 50% at best, so call it 65k. That is 315k max, plus 90k Bisa
. That is 405k and that is with production from old mines, huge increases in existing mines and production from a mine that has not yet been built.
Bisa is a great project with 18% returns using 900 gold, with more upside.
I think Olma uses very aggressive gold prices in their model, which could be correct or could be wrong. Its a guessing game.
I picked up a bit more at .94 level and hold 90k shares now at .97. Will buy more only below .90.
Anyhow, I am 99% sure HRG wont be around by that time so its a waste of time to argue about this.