Global Platinum & Gold (GPGI) Message Board

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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: Jeff Williams who wrote (6532)	7/6/1998 7:34:00 AM
From: Richard Mazzarella	Read Replies (2) of 14226

Jeff, <<500,000 tons it will last for 15 years at 100 tons per day>> We still have issues of homogeneity for the pile, not proved. If you like cash flow analysis for valuation, you should use 9 years (9 years an industry valuation standard, I'm told) (0.5MM tons / 200 days / 9 years = 278 ton /year. That would increase the stock's fair value. However, if you look at many metal jrs, they are severely penalized when reserves are limited. Realistically, the desert dirt's are currently in the dog house since IPM. Maxam shows a reserve of 5.7MM reserves and is only trading at $0.28. At $10/oz metal in the ground that stock should be trading at $1.27. Maybe GPGI isn't doing so badly in the current climate?

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