Summary of what CMM has in terms of gold reserves/resources..
1...Sigma?Lamaque Open pit
....Proven and probable =860,000 oz
....Measured and indicated =320,000 oz
....inferred = 875,000 oz
Total = 2.06 million oz
2...Sigma?lameque underground
.....Measured and indicated = 630,000 oz
... .Inferred = 1,710,000 oz
Total = 2.34 million oz
Note.. 2005 drilling will likley add to and convert to these reserves
3...San Juan Gold Mines
..Measured and indicated ( but not 43-101 compliant )=1.54 million oz
Note..once converted to 43-101 a good portion should be able to be reclassified to the Proven and Probable
Plus up to 18 million oz of low grade, heap leachable at Grand Chapune, plus likley more from other projects in this area
4.Carolin Mine.............I recall about 260,000 oz
5.Dorado in Peru....unknown, but as it is being mined by informal miners, any 43-101 future estimate would include a significant proportion of 2P reserves..the highest category of reserves.
Altogether, about 6 million oz , excluding the potential from the other projects at San Juan Peru.
Valuation...........I assign $275 /0z for 2P, $170 /0z for M $ I and $50/0z for inferred.
Total Reserve valuation of about $525 + million or about $5+ per share in the ground...excluding Grand Champune etc
These reserves/resources are almost certainly to increase in value, once they are updated in late 2006 ( eg, Lameuqe will be producing and additional drilling results...
stockhouse.ca
AZK / MNG /
CMM.V (CMNZF.PK) / IPT.V / MUG.V
PRZFF.PK ( PRZ.V ) / BDRGF.PK ( BGL.V )
RDFVF.PK ( RDV.TO ) / NSM.V / SGR.V |
