Do #'S make sense?
So lets say we have a mine that has 1.5 million ozs and it only costs 400/oz as per PEA to get it out of the ground. That is huge profit potential for a company to come buy them out and put it into production.
So lets say Agnico offers ICG 300/oz in the ground, $400 in production costs, that is still a profit of $625/oz at these low prices. Keep in mind that companies are still keeping mines in production at a production rate of $1000/oz so this mine still looks very attractive even at the high buyout price of $45 a share, that is if we hit the jackpot.
1,500,000.00 ozs x $300 = $450,000,000.00
$450,000,000.00 / 100,000,000 shares = $45 a share
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Now at Marines predicted price of $5.00 a share, we would be worth a ripoff price of $33.33/oz in the ground. Marine, can you please explain as to why you think ICG would be so undervalued? Or am I doing my math wrong. How do you get to the $5.00 share price.