RE:RE:Where's the news???As I am bored and impatiantly awaiting the next assay result I went back to a post I made where it was pointed out I made an error in my calculation. After going back and rereading the article I found it was my reading comprehension and not my calculations that was off. As per the article,
total indicated gold mineral resources of 3 million oz, inclusive of total probable gold mineral reserves of 2.2 million oz. The 1.8 million ozs I used was the number they used to do the mine fesability study Link to the article: https://www.e-mj.com/news/us-and-canada/goldcorp-buys-kaminak-for-its-coffee-gold-project/
Numbers below corrected to todays gold price still result in a $9 - $15+ share price at aquisition
I agree with JamesTB as well with respect to LME being a great aquisition target but I feel the value is much higher than $4 per share. As nice as $4 would be I think it will be much higher after looking at past aquisitions.
Kaminak sold to Goldcorp for $520 Million in 2016 when gold was $1250/oz. They had 3 Million ozs indicated gold with 2.2 mil of that probable. Just increase it 40% to today's $1750/oz and then increase it at least 3-5 times to 10 million (soon to be proven ozs) gives Laurion a $12.20 per share to
$520,000,000 + 40% = $728,00,000 X 3 = $2,184,000,000 / 240,900,000 shares = $9.07/ shr
$520,000,000 + 40% = $728,000,000 X 5 = $3,640,000,000 / 240,900,000 shares = $15.11/ shr
Always show your work. Correct me if my numbers are wrong; Again
In my opinion the 10 million ounces are probably light as it was before the two expansions of the strike zone last year, the New Niish discovery, CRK and others.
Been accumulating since 14 cents and probably holding way more than I should but I plan on holding this until it's way over $10. Maybe even $20