TSXV:MGR.H - Post by User
Post by
rockplayon May 31, 2013 1:11am
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Post# 21478250
Is there value here or not?
Is there value here or not? If the NI 43-101 estimation of resources for ONLY the Hudvam and Wim properties is considered, based on ONLY indicated amounts where the cut-off grade is 2.5% Cu equiv. there are appproximately 108 million pounds of copper, 43.5 million pounds of zinc, 229,000 ounces of gold, and 834,000 ounces of silver. At present prices of $3.30/lb for copper, $.85/lb for zinc, $1418/oz for gold, and $22.72/oz for silver the properties contain approx. $737 million of metal. With approx. 123 million shares presently outstanding at a price of $.015, the market is putting a value on the company of about $1,850,000. The company has just raised over one million dollars from other properties. And the Golden Arrow property has still not been considered. Sure, capex and production costs have to be considered but a value of less than 2 million dollars for the whole company doesn't make sense to me.