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Strategies & Market Trends : Natural Resource Stocks
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To: ItsAllCyclical who wrote (37105)3/20/2006 1:37:09 AM
From: hubris33  Read Replies (1) of 108650
 
IAC - did a little playing over the w/e on mining company values based on the DEZ deal done at $100 per ounce of gold in the ground...here's what I came up with for GSS.

Reserves (R) - 4.1MM oz
Resources (M&I) - 1.4MM oz
Inferred (I) - 1.9MM oz

Assume 206MM shares fully diluted.


Values in $/share
                            $50/oz            $100/oz
Reserves (R) only             0.98              1.97

R + M&I                       1.34              2.68

R + M&I + I                   1.81              3.61


On this basis, GSS looks under valued by 0.62 or 20%. Not sure how I see it returning to the December 2004 high of 8.64 on a value basis. Care to share what this analysis misses?

H3
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