RE: What was the value of Block J?Please find herewith something I posted in November 2010, and you will notice that this is still even more true now then before:
PS (Le Gagneur and all Swede Investors, please take note of the following quote, because if not you will once again go crazy and create new whisper numbers that nobody can match):
"For me the conclusion is simple, listen to what the Corporation is saying and not what the whisper number are taking about...
And it is using this as a guideline that I came to the conclusion that AFA
shares price is way undervalue, and this even before we talk about the potential for EPL 3403...
From what the Corporation is now saying, let make a conservative assessment of value...
Block J: Inferred and potential total between 1,354,000 and 1,654,000, let just say that at the end AFA value in the project equal 1,000,000carats....
Now using the number from the presentation were 1,000,000 carats is equal to $ 0.60of value and let discounted that by 75 % to take into factor the exploration still needed to advance the project.. that give us a value of $ 0.15 per shares...
Looking at the same numbers, but from a different angle I get $ 0.09 a shares for Block J.. (154,000 ct / 1,000,000) = 15.4* @ $ 0.60 = $ 0.09
Furthermore using the presentation number from the Haib copper project, we can see that the historical potential is 600 millions tonnes @ 0.32 % cu = 3,8billion pounds of copper = that equal to a value in the ground of $15,36 billions dollars... and AFA interest can be converted into a 1%NSR on that, and that could be worth $ 153,000,000... So let discount that by a factor of 90% you get $ 15,360,000, divide that by 192millions shares you get a value per shares of $ 0.08 per shares..
So I see value before even looking at EPL 3403 between: $ 0.23 per share
( $ 0.15 for block J + $ 0.08 for Haib = $ 0.23 of value... )
or
$ 0.17 per share
($ 0.09 for block J + $ 0.08 for Haib = $ 0 .17 of value... )
So this why I say that AFA WAY WAY WAY WAY oversold !!!!