OTCPK:ICNOF - Post by User
Comment by
SevenFigureson Aug 17, 2011 3:06am
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Post# 18950320
RE: RE: RE: RE: Why Not Running
RE: RE: RE: RE: Why Not RunningAllen
Thanks for the post. As you know in situ value depends on all kinds of things: high-grade/low-grade, shallow/deep, accessible/difficult access, secure country/worn-torn corrupt hellhole, etc. GF Bonanza is 4 for 4. I like the phrase "Mirrors Historic District" in the website presentation.
I read somewhere a few weeks ago (should have saved the link) that Canaccord published a report that valued in-siti gold worldwide at an average of $120. I have to believe that extremely shallow, high-grade, in super-mining-friendly Nevada has got to command at a minimum double the worldwide average.
What's mathematically interesting is that gold has increased $193/oz in the last 30 days. So doesn't it make sense that GF Bonanza gold would be worth a bare minimum $193 since production costs surely haven't increased by 15% in the last month? (Irrationally, this would of course assume that it was worth zero dollars 30 days ago).
Come to think of it, $35/$1787 is less than 2%. The US Dollar exchange rate can easily move more than this much in a few days (or less).
Also, having IMZ surrounding the property must boost the in-situ value since they are planning to build the infrastructure for their property anyway; ICN's "gold mine" would increase IMZ's IRR by a greater difference than the increased invested capital.
I have come across Pretium but haven't taken a deep dive yet (I follow and/or have researched about 40 gold juniors since May), I will take a look. Without knowing anything about them, either there is accessibility or depth issues with their deposit OR the "market" is incorrectly valuing the deposit.
My goal on the message board is to have a healthy debate and to continue to learn more, especially about other gold juniors, thanks for the heads-up on Pretium. If no healthy debate can be achieved, then finding common ground is OK with me.
Surprised at the lack of movement in ICN share price this week; but now am looking to top off with more shares later this week. Disclosure: I own over 150,000 currently.