Gold Canyon Resources Inc V.GCU

Prediction using the blue blob slide in web

[gossinc]

What's wrong with this logic ?????

Slide deck shows a body say 1550 by 250 by 350 metres = 135,625,500 cubic metres

one cubic metre is 2.72 tonnes granite or 2.3 tonnes sandstone
so say average is 2.5 tonnes per cubic metre
1 oz is 29.58 grams

Gold content appears

Therefore, 135,625,500 times 2.5 = 339,063,750 tonnes in the blue mass in the slide deck (and it is open too)

Drilling in slide deck shows and average of somewhere around 1.8 grams gold and silver is 5 times gold grams

610,314,750 grams AU = 20.6 million ozs GOLD
3,051573750 grams AG = 103 million ozs SILVER

so let's say grade is lower by 50%
Its not but let's play...............we have high grade zones to come.
Guess :  10 million AU and 50 million AG

So AU at $800 per oz profit is $ 8,000,000,000
BILLION.

Assume SLW.to buys silver stream for upfront cash
and ignore AG credits which are substantial.

Now take 10% of $ 8 billion and divide by share count means

$ 7.50 per share

That is my guess on share price high to come on announcement of 10 million ozs AU  ( I use this estimate as a strectch and will settle on 7.5 million ozs as my bet).

This is a very cheap stock and hence why we see so much insider buying and know interest from Sheldon Eric Sprott and others.

And , it is open to more finds along trend and in depth and what of higher grade core etc.

Expect fireworks.

[barisian]

... And your share price estimate is assuming we assign ZERO value to Malawi and Cordero.  The future is bright, indeed. On a different note, given the relatively mild weather we've experienced (at least, here in Toronto, anyways), does anyone know if the lake is sufficiently frozen yet to commence drilling re Winter Drill Program?  If someone who lives close to Springpole / Red Lake

[Geospot]

Gossinc, thanks for a more rational anylsis. Whatever number comes out in this first estimate, the market will value the company based on potential, not on a 1-to1 price per oz in the ground. In this first estimate, which will be very conservative, even 2.5 mil oz. would be 10 times the size of the compliant historic estimate, which only touched a small fraction of the area in parts of the main

[threepalms]

Thanks Geospot for this post. Being old enough to be familiar with Paul Harvey a radio host from days gone by allows me to remember Paul's radio show. "and that is the rest of the story" That's how I look at developing gold projects. What is the potential once the rest of the exploration gets done. I think any number that starts to justify the possibility of an economic mine is a

[Ballyculter]

This post has been removed in accordance with Community Policy

[Geospot]

As an afterthought, the URL. While this Feb 8, 2010 interview may be dated, for those of you new to the company, you might find this Quinton Hennigh interview interesting. Subsequent to this interview, he and Alan & team made significant progress in beginning to prove out many of the concepts, and I think even surprised themselves with some of the results. https://www.investmentpitch.com/media

[Geospot]

Of course I meant Feb 8, 2011 interview. Oops.

[bp4elk]

>Regarding the winter drill program they need to follow Goldcorps lead, their Chief Geo who is a very smart >person imo has purchased two barges for their Musselwhite mine drilling program on Opap Lake. The drill >rig is positioned on the barge and they drill all year round, in winter the barge is allowed to freeze in the >position where they want to conduct their winter drill program.

[bp4elk]

>What's wrong with this logic ????? >Slide deck shows a body say 1550 by 250 by 350 metres = 135,625,500 cubic metresone cubic metre is >2.72 tonnes granite or 2.3 tonnes sandstone >so say average is 2.5 tonnes per cubic metre >1 oz is 29.58 grams > I agree that the size of this deposit could be huge, I have thought that after a year or two more that 10 million ounces are

[copperman4]

The gold is still in the ground!!!!! $800 an ounce PROFIT!! The EXPERTS market value TODAY is closer to $50 an ounce IN GROUND. I wish you were correct but your stretching it. I think the market has a closer idea of INITIAL Resource estimate next week. 4 to 5 million ounces. Never get your hopes up too high. The markets do not like to be disappointed. IMHO

[cavedude]

Copper, there is nothing wrong with dreaming a bit before we get a tangible NR proving up what is what. If ya don't dream, there is no point in investing in spec stocks. My gut is stating we are undervalued and my hopes are that we will see $3.50 plus share prices after the 43-101 is released. Either way, its all very exciting :-)

[bp4elk]

>There are 31.1 grams per troy ounce, not 29.58 grams as are in normal ounces. When I posted this I just copied his number of 29.58 grams/ounce. I wasn't thinking. There are 28.375 grams in a normal ounce (454 grams per pound, one pound is 16 ounces, 454 / 16 = 28.375). one troy ounce = 31.1 grams

[copperman4]

That is why I am invested in Gold Canyon POTENTIAL. I love to dream but that is too big too fast. $3.50 is a REALISTIC peak price next week. That would be a 50% price increase. That would be a HUGE increase in a short period in these volatile markets. Too many traders will be taking profits. The NI43-101 had better be GOOD.   It will come down to what the resource estimate is next week

[FANTOMAS]

Copperman, market value per in-situ ounce is around $90 an ounce (Canaccord's). And regarding the NI 43-101 resource, we are not at risk here, because with the $2.30 sp, the market is giving us roughly 2.5M oz. so far. I think that's the minimum as total for all categories. Everything above that will lift the sp. Sitting on the edge of my seat. FANTOMAS

[Geospot]

Fantomas. Agree. Not much risk at these prices. The important thing is that having the 43-101 compliant resource derisks the asset for a potential suitor or suitor(s). So from the moment the release comes out we're in a whole new ball game - - the stretch toward the end game. That's why the big boys are in this...they're not looking for a certain price and then planning to get out of

[booyaaca]

I agree with cooperman. Better to under estimate than over estimate. At this point 3 million oz would be in line with estimates. Anything over that mark is the cherry on top.  The one thing you have to remember is that jr exploration companies dream to get to that 1 million oz of gold mark. 99% of them fail. RVC had a 43-101 of roughly 4 million oz. They got bought out at