Values calculated in a previous IPJ thread post:
Hinoba-An tonnage 225mm
Increase expected from Manlupo tonnage 175mm IPJ = 60% = 105mm
Tonnage = 330,000,000
Convert to pounds = 660,000,000,000
Convert to grade .48% to get pounds of CU = 3,168,000,000
Value per pound US3 cents, discount for sovereign risk to US2.5 cents = US$79,200,000 Convert to Canadian $ x 1.36% = C$107,712,000
Likely that IPJ will prove up total tonnage to over 400mm with grade rising slightly. If CU prices rise then another potential plus.
Gold Newsletter April 14 issue stated the following regarding Hinoba-an:
"Meanwhile, dramatic new drill results at the company's Hinoba-an, the company's copper deposit in the Philippines hols the potential to double that reserve. This project is likely slated for sale once the drilling program has maximized its value, and could bring in anywhere from $80 million to $160 million into Pursuit's coffers."
GN info would lead me to believe that the total tonnage could reach 450,000,000 tons. If the doubling comes from Manlupo then IPJ has 60%.
225 x 60% = 135mm tons plus proven up at Hinoba-an = 225mm tons equals a total of approx 360mm tons. Which more or less confirms the first calculation made, see above.
Best regards,
Ron E |
