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Gold/Mining/Energy : Winspear Resources
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To: Berry Picker who wrote (22243)6/30/1999 2:18:00 PM
From: Rick the Vet  Read Replies (1) of 26850
 
Brian: Thanks again for the info and invite to the meeting. I had no idea so many of my fellow posters were from the Edmonton area.

Here are a few calculations based on RT's numbers last night.

Capital cost to build mine 150 million. Lets use 200 million for cost overruns. RT says if we put up 30% the bank will carry the rest. So that means we have to raise 60 million dollars. I figure that will dilute the stock to 65 million shares at the most.

Mining rate of 3000 tonnes per day. $200 per tonne Cdn profit as it costs $80 per tonne to mine it.

This equals $219,000,000 per year profit.
Minus 25 million dollars for debt servicing.

194 million pre tax profit per year
65 million shares outstanding
$2.98 per share profit

PE ratio of 8 - 12
Share price $23.84 - $35.76

All this, and we can still buy shares for $4? Canadian fund managers must be dead from the *%*hole up.
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