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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: Claude Cormier who wrote (2325)9/24/2001 10:35:31 PM
From: goldsheet  Read Replies (2) of 4051
 
<I know you don't like silver, but have you reviewed the case of Corner Bay Silver>

I am been thinking about an answer to this question, and since I have not been very interested in silver I'm not sure I am competent to do a proper analysis. I have read the analyst reports on the Corner Bay Site and I've looked at a few silver stocks, their market caps, reserves, and resources. My very crude analysis tells me reserves are worth $US0.80 and resources about $US0.30 making 100moz of resources worth $US30 million, about 50% above the current market cap of Corner Bay. Getting 40 million into mineable reserves, indicates a value of approaching $US60M. Of course any rise in silver would increase these numbers, and any additional shares issued for financing would cause some dilution. I think the current FMV of BAY is $C 2.50 ish, and if they follow through on the plans along with a bit firmer silver then $C 5.00+ is a good target. I understand why you like it, at least a triple from current prices is attainable.
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