TSXV:NORA.H - Post by User
Comment by
blue_seaon Jun 03, 2011 6:13pm
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Post# 18670068
RE: My Calcs...
RE: My Calcs...nice calculation ihammy but I disagree,
... like I mentioned before, when Pan American wants to buyout Orko Silver it has to buy not only 45 percent of La Preciosa, it has to buy 100 percent. The 45 percent is that part what Orko can remain when the project will brought into production and Orko stays in the game, ... so in consideration PAA calculated in the costs of building the mine and to operate the mine. Because of that it's fair that Orko would "only" remain the 45 percent when they will be a partner further.
But in case that Pan American Silver wants to takeover Orko or usually said realizes a buyout they have to buy 100% of La Preciosa. That's because this will happen before they build the mine, before all operation etc. Now in consideration there are only the costs of the PEA and the drilling programms etc.
In that case and in regard to the costs of the evaluations (PEA / NI 43-101) they cannot be adequate of getting 55 percent of La Preciosa for it. 100% of La Preciosa is more worth than 25 million bucks. That's why your calculation of the buyout is not right in my opinion. When PAA wants to buyout Orko they have to pay 100% for La Preciosa not only 45% of the resources which would be the remaining part for Orko when they would stay in the game with the later operator PAA.