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Gold/Mining/Energy : ATNA ( v.atn t.atn)

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To: Richard Humphrey who wrote (50)11/28/1996 7:22:00 PM
From: Ralph Kern   of 509
 
I read a CIBC-WOOD GUNDY report on Westmin which suggested a value of
150m for ATNA's share of the Wolverine deposit at the 5m ton level. Based on this alone the stock should be trading at >10/share. I believe they used conservative values of $/ton and extraction costs. It is hard to understand why ATNA's share price doesn't reflect it's projectd value. Perhaps there is still some uncertainty as to whether or not Westmin will proceed to a mine. Any thoughts?
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