Hi G-T!
Indeed ... hope this helps!
Sadly, I do not have the URL's at my finger tips BUT I can help navigate somewhat!
1. Yes, I knew about www.goldoreresources.com and I even cruised through it "at the beginning". But of late when I went back ... it was to dig deeper. The maps shown at the site are highly germaine re: gives you the eventual ability to connect 'dots' if you will. Plus it gives you a picture of the areal extent of our postulated mineralized area. Find the "Northern Miner" article of Jan. '06 ........ this was likely researched months previous. In the article are candid quotes from management! They are fun because we can now read them in greater (and meaningful) context of what they knew in their experienced 'guts'! Meaning: Wasylychyn basically says they know the oz's are there ... the question is one of economic extraction and mining technique.
2. Take the time to go to SEDAR.com and download the Wardell Armstrong International 43-101 compliant report of Dec. 15, 2005. Granted it will have sedative value if you read it late at night BUT it is chock full of historical data. I did not do this "in the beginning" ........ much of the story being played out now was surmised in that report. But again, NOW we can read it in greater context.
3. I believe it was the respected Rock17 that mentioned that Stan Bharti's Williams & co. (of later Desert Sun mega-fame!)had a 2.6 million oz. resource estimate delivered in the mid-90's ......... that post by Rock17 would have been on StockHouse sometime from the third week of Dec. to New Year's (I think). Don't have a formal reference for that BUT I suspect WAI did review that data for their own report.
4. Finally, it is worth going back AND CAREFULLY examining GOZ's past NRs in light of the recent news release. Because at this present share price 'we' are WAY ahead of other juniors in many of the important economic issue areas. This is completely unrecognized in the marketplace!!
"Swede1" at StockH reckons that the mill alone is worth 37 cents a share ... and ALL the rest then is worth 41 cents? Yeah right! It is ludicrous how undervalued GOZ is, in this context. There was a large bulk mining test done, and milled, in '05 ... management knows precisely what its costs to u/g mine and mill will be!! The tunnel material in '06 was successfully milled to give GOZ a second set of precise production numbers. OSK, e.g., can estimate, but 'we' know in real time ... this is muy importante stuff IF as an investor we are going to commit a lot of our treasure to join the GOZ-story. Going seamlessly from a junior explorer to a bona fide gold-producer is logically frought with many and varied traps that can increase your time and monetary expenditures! That only makes intuitive sense! GOZ is not burdened with any of those myriad risks.
All 'that' is done for GOZ! They know exactly what their costs are and remember they have running the mill PROFITABLY on furnish that is usually around 0.6 to 0.8 (don't quote me!) g/t. "Rubble" as I call it! The average vein grade of the last NR was around 14 g/t ........ so dilute that with run-of-mine matrix to around what? 4 g/t? Who knows ... all I know that is the eventual long-tern furnish will be many times greater a grade than 0.6 to 0.8. If 20K oz. are being produced now, then one can easily see how 70-80K+ oz.'s of AU can be routinely produced, just by upgrading the furnish grade.
That is why this scoping study / pre-feasibility is importante ... because if GOZ can devise ways to maximize the furnish grade, the mill production just gets way better!
I am not experienced at attaching multiples to gross cash flow or net earnings etc. etc., but for the sake of easy arthimatic, let's assume GOZ produces 100,000 oz. of AU at $300 all-in cost ... at $600 AU, that's $30 mill. net earnings or approximately 0.50 of net earnings per share, fully diluted (or there abouts) .. what's the multiple on that? I suspect it is way above a 10-bagger.
My apologies ... I have run off at the mouth! As I said at the onset .. I hope this helps! Compadres, the time investment you make into reading GOZ's attachments and releases is VERY worth it!
Buena suerte a todos!
Saludos!
Dorinho |
