North American Gem Inc V.NAG

Louise Lake

[mcugly]

If NAG is considering offers on this property then what would be an appropriate offer? Consider the following chart from their Aug 18 news release:

Table 2: Contained Metal Amounts Calculated from Resource Estimates at 0.25% Copper Equivalent Cut-Off---------------------------------------------------------------------------Resource Category Tonnes Grade Contained Metal(i)---------------------------------------------------------------------------Indicated 6,000,000 0.214% Cu 28,300,000 lbs Cu--------------------------------------------------------------------------- 6,000,000 0.006% Mo 780,000 lbs Mo--------------------------------------------------------------------------- 6,000,000 0.20 g/tonne Au 39,000 oz Au--------------------------------------------------------------------------- 6,000,000 0.98 g/tonne Ag 189,000 oz Ag---------------------------------------------------------------------------Inferred 141,000,000 0.234% Cu 727,600,000 lbs Cu--------------------------------------------------------------------------- 141,000,000 0.009% Mo 27,900,000 lbs Mo--------------------------------------------------------------------------- 141,000,000 0.23 g/tonne Au 1,040,000 oz Au--------------------------------------------------------------------------- 141,000,000 0.94 g/tonne Ag 4,260,000 oz Ag

If you just consider the indicated resource then 28,300,000 lbs Cu @ $3.30/lb = $93,330,000.

780,000 lbs Mo @ $15/lb = $11,700,000.

39,000 oz Au @ $1200/oz =$46,800,000.

189,000 oz Ag @ $18/oz = $3,402,000.

Total $155,232,000.

These numbers do not reflect production costs. However they do paint a picture of significant resources for NAG . Any offer should be significant to propel the share price. IMHO

[mcugly]

That should read any significant offer.

[stavros67]

Nag is in the drivers seat when it comes to negotiating for Louise Lake.We need more copper in the next 20 years than was mined in the last 110 years. Those of us in the business don’t have any idea where this metal is going to come from. – Ivanhoe Chairman Robert Friedland yesterday at the Diggers and Dealers conference in Kalgoorlie, Western Australia

[Durkastan]

Mcugly: You did note that production costs aren't accounted for in your valuation, but you didn't factor in the time value of money. Look, if the Louise Lake property was worth anything remotely close to being over $100 million, that would be reflected in NAG's market cap. Whether they hold it or sell it, it will be a line item on their balance sheet (either "PPE" or "

[stavros67]

I strongly disagree with you. Copper deposits must be large to garner any interest, it's about scale. The fundamentals for copper are super bullish and this new recovery technology is a game changer.

[Durkastan]

I strongly disagree with you. Copper deposits must be large to garner any interest, it's about scale. The fundamentals for copper are super bullish and this new recovery technology is a game changer. Disagree with me if you like - but you're really disagreeing with the market. If this LL property was worth 100 million, wouldn't NAG's market cap be over $18m? Think about that for a

[donat50]

The problem with LL is that like everything else NAG is into it was discovered then it sits dormant for years till everyone forgets it is even there .Like Sask. They say they have at least 3 areas that have as much coal as GXS has but dose anyone care it sits .In kentucky last year they told everyone we would have 3-4 mines up and running by Feb. here it is almost Set. and we have one dead mine