Randall: I don't think anyone knows how many total reserves are owned by GPGI, but between the Hassayampa and the Weaver Creek, they'll still be in ore when you and I are long gone (at least me).
If you add in the Oro Grande, you're talking 1100 acres down to 700 feet which is still in ore to depth and on strike. Inco's geologist (Peter someone, I forget his last name at the moment) thought they'd probably be in ore to at least 1000-1500 feet in depth as I recall. And they only drilled 1/10 of the total property. I think it was Mike Thomas that calculated over a trillion tons (proven and probable) between the OG and WC.
As to what sort of a "trading range that might translate into," you might recall Barry Downs discounted the reserves to a 1/3 level and came up with $100. Let's be conservative and say a range between $40-50 once they get the Oro Grande and WC in production along with the Hassayampa. Of course, this won't happen next week, but it is certainly possible in 2-3 years IMO. As to a short term trading range, I think that's difficult to project, but $4-5 doesn't seem out of the question in the next 30-60 days IMO. After all, look what they've done with virtually no money. Imagine what more could happen with cash flow and/or a JV partner, or both. It kind of boggles the mind, doesn't it???
Regards,
Jeff |
