Hi Essam, I think eluvial resources (200,000 oz) is only a part of the Batangas zone. From DSM's news release of FEb.26, 97, it said:
"Geological reports based on exploration and development of the property
between 1987 and 1994 give geological reserve estimates of 5,534,203 ounces
of gold contained in an estimated 55,283,800 tonnes."
"ZONE TONNES AVERAGE GRADE DESCRIPTION ESTIMATED
(gm/tonne) DEPOSITS GOLD CONTENT
Bungahan 1,886,000 4.250 7 Veins 257,704 oz
Ulanin 7,130,000 3.970 5 Veins 910,062 oz
Breccia 43,125,000 3.000 Breccia/Stockworks 4,159,500 oz
Eluvial 3,142,800 2.048 Eluvium 206,937 oz
TOTAL 5,534,203 oz"
With 5.5 mil. oz estimated reserve, even with $US25/oz, the share would value 14+US$. Am I missing something important here, or just there is not enough promotion?
Joe, I don't know details of their Bolivia project, all I know is from their news release dated 96-07-02. You can get it from Canada Stockwatch.
Good luck all.
Jiong |
