RE: 11.5 Well, 11.5 cents will be a bargain in my opinion. We are very close to having the application for a Geological elaborate being submitted very soon with tonnage numbers likely +6.5 million tonnes having an in-situ value in the multi-billion dollar range for Piskanja alone. Piskanja probably has much more than the 6.5 million tonnes of known resource, however, I expect we will only confirm the positive studies done (Feb., 2012 and June 2012) of 6.5 million tonnes of 36.8 percent B2O3.
Using HighPh calculations for Erin Ventures: (1) A profit margin similar to the borate producers (i.e. Eti Mines) : $6B X .75 = $4.5B
Erin Ventures’ market cap : $12m
Piskanja’s Net Asset Value in the ground : US$22.50 share price (4.5B/200m shares)
Jarondol deposits - 96% still unexplored - ??? million tonnes.