GREY:OLEPF - Post by User
Comment by
tony1969on Feb 01, 2013 6:01pm
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Post# 20927224
RE: RE: RE: New Math Formula = $2.24
RE: RE: RE: New Math Formula = $2.24 Thanks 1sanman1 for your kind words. I am just basing my estimate on them getting roughly aroung $600 to $650 million for the property. That is $1.72 using $600 million and $1.87 per share using $650 million. Take out the 10% they will owe Senegal and you land somewhere around my $1.50 to $1.70 figure. I actually upped the lower end of my estimate after the study. I was thinking $1.25 on the low end.
Those reserves of 2.335 million with a 2.59 grade are the key here. If they can get $150 per ounce for them that would be $350 million alone. Getting around $300 million more for the remaining gold and blue sky would be great and get us up to $650 million. This is just my opnion and it would make me extremely happy if my estimate proves to be conservative when all is said and done. Thanks again 1sanman1.