Corner Bay Silver (BAY.T) Message Board

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Gold/Mining/Energy : Corner Bay Silver (BAY.T)

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To: Little Joe who wrote (966)	6/13/2000 3:07:00 PM
From: Claude Cormier	Read Replies (1) of 4409

<< Until that happens, I am a nervous nellie and can't bring myself to commit more to it.>> You have some excellent points LJ. TA often shows the route. OTOH, fundamentals have to be the only thing on which one can base the true value of a company. BAY is now $2.70-$2.73, may be we will have that breakout. An update report was out this morning by Steven Buttler, mining analyst at Nesbitt Burns. In a few words: ...Our overall estimates are based on recoveries of 63% recovery for silver amd 79% for gold. Our 10% NAV is estimated at $5.00 per share... This project has thepotential to support EBITDA of $41 millions per year in the first five years of production, and support earnings and cah flow (assuming 100% project financing) in the range of $1.50 and 2.00 per share, respectively. Nesbitt has an OUTPERFORM rating on BAY.

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