Sorry, I'm not a geologist, so I can't interpret results. But I will quote selected sections from the original release ...
"The resultant geological resource of gold is increased from 700,000 troy oz to approximately 1,500,000 troy oz excluding the impact of certain high grade deposits of up to 215.9 grams (6.9 oz) per tonne which will require supplementary drilling to better determine ... copper is increased from 115,000,000 lb to approximately 200,000,000 lb.".
My interpretation of the above. The results were great before, now they are fantastic. They have approximately doubled both copper and gold reserves.
Some simple and conservative math ...
Value gold in the ground at $50 per ounce
1,500,000 ounces = $75,000,000.00
Value copper in the ground at $0.25 per pound
200,000,000 pounds copper = $50,000,000.00
Total value of copper and gold = $125,000,000.00
There are approximately 10,000,000 shares currently issued ... do the final calculation yourself! |
