Hi Mr. Metal,
my last calculations,
Today Oct 14 1998 HM traded at $12.25. .74 of 12.25 = $9.07 9.07* 37582905=340,876,948 for one half of the Co. Or !/2 of gold reserves-1,350,000. 340876948/1350000=$245.5 per ounce.
Looking over things I made a mistake here, this 245.5 is incorect.
This also takes into account the silver, making toal reserves 4,208,000.
One half of this is 2.1 mill. 340,876,948 divided by 2.1 =$162.32
"Experts in the field indicate that the large mining companies are prepared to pay between $30 to $100 per ounce for proven resources. Recall that the indications are that EPAR could have 10 to 20 million ounces of gold ( not to mention 90 to 180 million ounces of silver, a 9:1 ratio, so there will be some recoverable values in silver)."
20 mill time $100 =$2 bil. Thats $200 hundred per share value.
If we get some news of a JV. That should give EPAR recognition, and a price increace.
your comments are welcome. I keep tring to find a reason EPAR is not already trading higher.
". The chairman has been actively involved in negotiations and establishing business relations with such well-known companies as Homestake Mining, Placer Dome, Meridian gold and Newmont Exploration, Franco Nevada, Euro Nevada, Dynatec, Tech Technologies, among others."
Kramer |
