Hi, Sure I can clarify. The cash position comes from the last annual report. When you look at their assets, you see that they have over $1M in easily liquidated assets. The probable 1M ounces of gold comes from the following facts.
The Mint treated 200M ounces of gold between 1908 and 1936. At the time, laboratory methods wasted 1% of gold. Logically, they lost more than that. Moreover, in 1936 they changed their processes because of unacceptable losses (unacceptable losses meaning that they were certainly more than the theoritical best). In 1945, they changed the process again, once more because losses remained at an unacceptable level. So, assuming losses as low as 2%, they wasted at least 4M ounces of gold. Now, all residues were dumped in the Ottawa River until the sixties. But, by that time the Mint was treating marginal quantities and were also much better at recuperating everything.
Now, geophysical studies of the dumping site show that sediments are up to thirty feet thick there, as opposed to 3 feet thick elsewhere in the area. Currents are at 0.8 knot, or 1 mile per hour. Gold being 19 times denser than water, it must have sunk fast and not travelled far and thus must still be there. The interesting area is about 4000 square meters, but the precious metals are probably highly concentrated at the bottom of the residue pile in a small area.
Of course, until final sampling results are released, there is no guarantee that the stuff is there. Nevertheless, given the high probability of a very substantial find, I would suggest that people can buy small quantities of the stock at its current price of below $0.40., given the potential for enourmous profit
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