RE:RE:RE:RE:UnderstandingLet's talk numbers then ...
700,000 oz gold + 2.0 million oz silver / 80 = 725,000 oz gold eq
Let's say $50M to buy land, drill, engineering and environmental permits since it is wrong to apply the recent financings since the resource impacts are not included in the current resource assessment. The other loans are a Sprott scam since IDM has no use for the cash if selling.
Max $40M for land, drilling and resource evaluations. Environmental approvals and engineering also required some spend as is the case with all new mining areas including the smaller step out areas per Ascot resource base.
Find Cost is $40M/725,000 oz = $55/oz
Est. Sales = 725,000 oz x 1300/oz = $940 million US x 1.30 = 1250 million CDN
Est. Opex = 725,000 x $800/oz = $600 million CDN
Est. Capex = $135 million CDN
Est. Profit = $515 million over 7 years
IDM is worth a lot more than its current market cap of $34 million and sure IDM should be able to do a better deal if they are patient. I would expect other IDM shareholders will NOT be at all happy with the Sprott scam that is in play here. I am hoping others will also reject this offer.
I would like to do these rough preliminary numbers for Ascot but there would need to be at least a PEA and some measured resources in play to avoid pure speculation since I will not trust numbers verbally and flippantly stated in a conference call.