Kitty, <<Because Dale Runyon has a very active imagination.>> Well, well, well, do I sense a change in tone? First they were liars, then cheats, con men, and manipulators, now they are naive? I like the new tone of your post. Richard Hewlett's specialty is property evaluation, that's one reason why Runyon hired him. I suspect that Barrick and Placer aren't even aware of what's happening. Large companies have "their" way of doing things. The claims from Maxam do seem wild on the surface, but what if it's true? A sea change for precious metal mining? If I were a large producer, I wouldn't pay any attention either until they demonstrated what they claimed. Hewlett has valued less than 1/30th of Maxams holdings at 4MM oz Au. That has been effectively doubled with their deep drilling results. New work confirms even more now. How many dollars do you want for metal in the ground? $10, $20? Since I'm the optimist I'll use $20. ((8 X10^6 oz X $20) / 40 X10^6 shares = $4/share) Barrick has nothing to worry about, they can snap up the holdings any time they want. Remember what some were willing to pay for Bre-X?
PS, since you may have gotten over your bad mice, I will answer your other question. Maxam has all the money necessary to mine Peoria Seven. The warrants will fund mining for Peoria South. The added dilution will be offset through increased book value and production at Peoria Seven. |
