Balmoral Resources Ltd BALMF

Personal estimate

[PVNasby]

All this complaining that we haven't seen an estimate yet ...  
Why haven't any of you punched any numbers yourselves?  I worked on it over the weekend, at least to have something to toss out as my best guess (and as a good reason to not sell):

I have pages of notes that I won't go over here, but this is based on both Balmoral's drill results and the bases for Detour Gold's proven, probable, & inferred.  My first estimate was 2.13 million ounces, but I thought that was too conservative.  My latest (revised) number is 4.3 million ounces, which I would be VERY happy to see verified (or exceeded!).  Can't wait to see if I'm in the ballpark.

I pooled my separate estimates for high grade drill results plus the main ore body.  I worked with a range of volumes for ore body (roughly 80 to 320 million metric tonnes) as well as a range of grades (mostly 0.3 to 0.9 g/t, excluding the high intercepts), and tried to stay conservative/realistic.

Bottom Line: Using 0.6 g/t and 184 million metric tonnes, I came up with 3.6 million ounces, and then (somewhat arbitrarily) added 700,000 ounces of high grade, for a total of 4.3 million ounces.  A higher grade along with lower volume could also hit that estimate.  I do believe that should be in the ballpark. If not, I hope my estimate is way low.  I could reasonably multiply my total by 1.75 based on an optimistic/realistic grade increase to 1.05 g/t, which would bring my estimate to 7.5 million ounces - but I don't expect to see that.  Obviously my estimate only goes down 300 meters, and my model box is just a small part of the System dimensions.  Potential multipliers for (eventual) higher ore volume include (4X E/W length) times (8X N/S width) times (2.3 X depth) = nearly 74X (which would be a very unrealistic maximum limit, but 6X might be possible).

So - will a best guess of 4.3 million ounces win any prizes ???

Whatever Balmoral has, does anyone else believe that the "Abitibi Premium" for Balmoral could approach $1 per share per million ounces?  Is there any argument to suggest a different (higher or lower) valuation?  It amazes me that volume remains in the doghouse, and nobody seems aware of any potential here.  Please tell me - what am I missing???