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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Henry Volquardsen who wrote (8130)1/14/1998 5:10:00 PM
From: Jan A. Van Hummel  Read Replies (3) of 20681
 
Henry,

Let's assume then that there were (unproven) reserves of 200 mm ozs and
that the stock price of $230 fully reflected that, which I frankly doubt.

This then equates with a market cap of $5 billion or $25/oz of Au reserve
on the low side and abt $71/oz of Au reserves on the high side.

If we assume then Naxos to have some 40 mm shares out, if we compare the
two we arrive at a stock value of $0.625 to $1.77/share for each one million
of proven Au reserves at FL.

Now we only need to figure the reserves.

Jan
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