RE: RE: RE: RE: RE: Brophy estimates several milli Jon_doe, you said anyone who thinks $360/ounce in the ground isn't reasonable is not too bright. Then why are gold juniors averaging valuations of $46/ ounce in the ground. Is it because everyone except you is not too bright?
Have you taken a look at what low grade gold deposits are being valued at in today's market? Take a look at XRC (Exetor). They have a 60 million ounce equivalent deposit that's close to double the grade of your hypothetical 0.25g/t deposit. Is their shareprice at 2.80? Not even close. They are currently valued at 122m. In other words, they are valued at 2.00 per ounce. So if you're so bright compared to the rest of us, why do you think a hypothetical gold deposit at 0.25g/t should command a price 180 times that of XRC's actual deposit (much of which is in the proven and probable category)?
The point is moot anyway because SLI's hypothetical low grade deposit is hypothetical. It doesn't exist. And for it to exist it must be drill tested and compiled in a 43-101 resource estimate. And that ain't free. The global average discovery cost is 30.00/ounce. So it could realistically cost SLI 30 million dollars to discover 1 million ounces of gold. And then hope the market doesn't put a value of 2.00 per ounce on it after that.