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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Bruce McGaughey who wrote (711)12/12/1996 3:05:00 PM
From: Alan Vennix   of 35569
 
Another approach, using your assumed 0.1 oz/ton and a value of $50/oz, gives $14/share. However, there has to be some discounting for less than 100% ownership, so I would expect a share value initially (assuming 0.1 oz/ton) of something less than $10/share, possibly $8. After that, the share multiple will depend on results for the deeper samples and the samples on the rest of the area. Also, of course, what the recovery percentage and process is.

So, we're still in a "guessing game", but at least it's fun.

Al
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