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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: lorne who wrote (174)3/12/2000 2:22:00 PM
From: Claude Cormier  Read Replies (1) of 4051
 
Lorne,

So Holmer has a market cap of $6M dollar.

For that you get:

1) 60% of their Timmins Gold project (300,000 ounces to HGM)

2) 50% of their silver project (2.4M ounces of silver in the mineable category)

3) x%? (probably 50%) in ta copper/zinc project in Cuba with 440,000 tons of 2% copper 4.5% zinc indicated.

Not bad at all. Although they have no cash, SAS is financing the work at Timmins.

The gold property is their most important asset and base on a very conservative US$15/ounce of gold in the ground is worth US$4.5M or C$6M.. So the market cap of $6M is covered.

The only problem I see is that their properties do not appear to offer a lot of potential. The companies that eventually are successdul in attracting investors are those with multi-millions ounces gold project or 50M-100M+ ounces silver projects.
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