Golden Goliath Resources (TSX: V.GNG, Stock Forum) on Thursday announced preliminary results for its Las bolas property in the Sierra Madre mountain range of northwestern Mexico. The Vancouver-based silver exploration junior surged 43.5% to 28 cents after reporting a 43-101 compliant resources estimate that said the property could produce as much as 112 million ounces of silver. On the low end, the property could produce as little as 30 million ounces of silver.
Teatimenow was ready with the calculator: “66 million shares fd outstanding * 0.20 sp = 13.2million market cap: worst case 30 million ounces/best case 120 million. values each oz of silver eq between 0.43 and 0.1 Can $$0$0$0$0Great play . look for a dollar soon!$0”
But other posters wanted more concrete projections for a potential mine. “CONGRATULATIONS GOLDEN GOLIATH ...until he PROOVES up the 30 million oz's we only have a number that means nothing,” wrote 1Eagle1. “I say good on the company but Paul needs to give a time line when he can give an upgrade on the number, the cost and not drag this out for the next few years.So Paul give us a time line going forward of what is next, how much money you will need to get this resourcse updated,the cost and where will the money come from. Thankyou ( you notice only REAL questions)”
