If Smokey is anywhere close with his estimate of 25 million ounces of gold, and 3 billion ounces of Silver, lets put this estimate in perspective by comparing to another diatreme, Argentina Gold.
In May of 1999 when Argentina gold was taken over by Homestake, Bill Rand and Lukas Lundin announced proudly the fact their 60% owned 3 ! ! ! deposits contained 5.8 million ounces of gold and 78 million ounces of Silver.
@ $300 gold and $5.00 Silver X 60 % Argentina's gross value of reserves works out to the deposit. For a total value of $1.278 Billion
If my calculator is correct and Smokey is on the money the Minera contained value could amount to;
Gold 25,000,000 x $300 =75,000,000,000
Silver 3,000,000,000 x $5.00=15,000,000,00 Total contained value = 90,000,000,000
So there you have it: Argentina Gold $ 1.278 Billion
Minera Andes 90 Billion
And, Homestake gave up over 8% of their company for the Argentina Gold orebodies. Perhaps Minera Andes will take over Homestake. Homestake could obviously use some assistance.
Over to you Claude
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