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Gold/Mining/Energy : Amarillo Gold
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To: rexstatic who wrote (74)10/31/2007 1:26:10 PM
From: TheSlowLane  Read Replies (1) of 85
 
Well hopefully Claude or someone with an informed opinion will chime in here...but until then...the company has a market cap of about $33 million (40MM shares X .82/share). There is almost 1MM ounces of gold at Mara Rosa. So that is roughly $33/ounce of market cap to gold in the ground.

I believe that the takeovers of Cumberland and Miramar were done at valuations over $100/oz., implying significant upside for Amarillo using current takeover valuations based solely on Mara Rosa. I think it is way too early to say what might be at LdS, but what interests me is that it looks like there is the potential there for large, bulk-tonnage targets that are close to surface. There is a lot of drilling that needs to get done though. I thought the initial results were not discouraging.

Edit - one more thing, the stock is selling at 1/3 off of where the last placement was done and there was no warrant attached to that deal. Not sure how fast they are spending it though, running 2-3 rigs continuously must be expensive.
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