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Gold/Mining/Energy : Til Capital Ltd.

TIL 4.000

0.0%

May 2 5:00 PM EST

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To: Sailing2 who wrote (79)	12/23/2012 11:19:46 AM
From: 31Floors	Read Replies (1) of 185

Hi oilgeezer, I won't be able to do MDW because I'm too over weighted in GPD as it is already. But the stronger MDW, the better it is for our baby. The past two weeks we've seen an increase of volume and what looks like the bottom established at .27. I think that price was absolutely shocking! The new strategy is to get more information to the market on the royalty side of the business, which doesn't look to be given much, if any any value. Or it is given value but GPD is priced like BC has cash costs of $1300 or something! On Dec 5, 2011, GPD calculated the NPV of the PAN at $32.7m using $1600 gold. But these are very conservative numbers because with a simple heap leach, MDW doesn't have to waste money on getting 43-101 numbers as the recent $70m financing can attest to. As well with the PAN still open to the east (?) and down the middle they moved the drills to Gold Rock! So that NPV number doesn't do justice to what that royalty number is really worth. The current cap at .32 x 155m basic = silly cheap and in a year's time some people will look back and say they could have..... ! I think 20/20 will look back and smile on us but we'll know for sure, later! In the meantime some casual Sunday reading if interested. As mentioned before, to date Bill's presentations on the royalties do not ascribe any value to Gold Rock. midwaygold.com midwaygold.com midwaygold.com 31Floors

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