From RB, LOL, the plot thickens. This thread almost looks as much fun as MYNG.
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By: just4fun89
Reply To #23 by CIMA
Thursday, 15 Apr 1999 at 3:43 PM EDT
Post # of 26
I CALLED Cerro Dorado!!
Used the IR number 801-484-2668 and talked to a Jim Robertson. Jim was associated at one with with Medinah, I'm sure MDIN longs might recognize him.
I wanted to get this info posted ASAP so I haven't done much "thinking" about our conversation, or much research. What Jim told me leads me to believe that WAMC shareholders and anyone who buys CDCH is in for a nice little profit! This is witnessed by a nice increase in today's trading.
The FIRST thing I would like to CONFIRM is that MDIN and CDCH are definately related. Jim, as I said used to be with MDIN, and is still on good terms with MDIN. The dig announced in today's PR is ADJACENT to MDIN's dig. MDIN and CDCH have already agreed to build a road
(forgive me, I know nothing about mining but this sounds very important) that the 2 companies can share and there's been talk about other joing ventures between the two companies.
Probably the MOST IMPORTANT part of this transaction is there's only approx 500,000 shares of stock in the public float! This is TINY, especially for an OTC stock! There's 5M outstanding shares, but according to Jim, these are in the hands of people who "aren't doing anything with them", so I assume they are directors or shareholders.
Now about this recent dig...again it's adjacent to MDIN's latest dig, in which MDIN is finding 30g/Ton of gold. Evidentally this is a VERY good thing. Jim wanted to make it clear that CDCH's dig may not be that good but it IS adjacent to MDIN's. They have determined it would cost $120/oz to mine and mill the gold in the dig, and with today's price of gold, that leaves about $165/oz in PROFIT for CDCH. There are of course other overhead costs such as administrative and other salaries.
As for how much they can mine, I have no idea...seems like you could mine a lot per day, i mean my sport truck will haul a ton...I can imagine how much those big tractors can haul!
I'm staying in, why not...and I'm actually almost 70% up as of right now, too! |
