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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: soxan who wrote (13522)6/13/1998 10:25:00 AM
From: Larry Macklin  Read Replies (2) of 20681
 
well--lets work on the 40 hole drill program......that represents 57 million tons. 57 million tons at .09 oz/ton is 5.1 million oz of gold.
5.1 million oz of gold at $300 dollars per ounce is 1,530,000,000..dollars...........if we assume 200 dollars per ton recovery that leaves us with about 500 million dollars profit. divide that by 30 million shares and that puts the value at 17 dollars per share.

Keep in mind that the 40 hole drill program represents less than 2% of the property(2.5 billion tons) and this is just gold, no PGM's.

Of course, there are some assumptions here and i have no idea if this is how institutions would actually put a value on the stock........but you said have some fun and i gave it a shot. you can play with the recovery figure and that significantly changes these figures....try plugging in 250 recovery cost...i have also heard that 150 recovery cost is quite possible.

Larry Macklin

PS-------at what time was that 50,000 share block traded? before the stock went to 3 7/8 of after?
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