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Gold/Mining/Energy : News that catches your eye
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To: John Fairchild who wrote (107)11/30/1998 10:13:00 PM
From: Little Joe   of 148
 
IWA's Value is Definitely Growing.

Iwa presently has approximately 350,000 ounces of gold proven
up. Company officials say they are conservative in estimating
they could net at least $50 per ton on this resource if they
went into production at the current price for gold. Given
350,000 ounces at $50 per ton would equate to $17,500,000.
The company currently has 22 million shares and this would
give a value of approximately 80 cents per share.

However,lets not forget that a lot more drill results having
the best assays to date are not apart of this much earlier
calculation. Lets assume that the company can prove up 1 million
ounces.If the price of gold remains constant the value would be
$50,000,000 or $2.27 per share.If the price of gold rises to $400
per ounce as some experts expect it to given the growing shortage
and expected increase in demand the value would be
$150,000,000
This would equate to a value of $6.82 per share.

We must remember that this property is in an excellent location
with a proven track record on production.It is far from being
fully explored and the vast majority of drill holes are finding
significant core results.Given the current price for this stock
it certainly appears to be significantly undervalued and their
isn't much downside risk. I personally feel the potential rewards
of owning this stock could be enormous.

Little Joe
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