Barramundi Gold Message Board

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Gold/Mining/Energy : Barramundi Gold

BAM 53.90

-0.9%

Nov 4 3:59 PM EST

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To: zebity who wrote (13)	2/12/1999 9:53:00 PM
From: zebity	of 99

BAM Longline tailings value BAM Longline assays returning up to 186 g/t Find following some simple calculations on value of Barramundi Gold Longline tailings. A bulk sample has been done that returned 3200 ounces using a very primiive gravity extraction process that likely only removed 10 - 20 % of the gold. This means that BAM longline tailings are worth: TotalGold * .2 = 3200 => TotalGold = 16,000 oz => TotalUnextracted = 16,000 - 3200 = 12,800 oz If this was processed using modern techniques with 90 % return: TailingOz = 12,800 * .9 = 11,520 oz Value of Tailings = 11,520 * 280 $USD/oz = 3.2 Million Given that this is tailings, cost to dig them up is zero, cost to process and transport is around: .5 Million Thus value of: 2.7 Million USD. This money could then be put into further defining Longline deposit, which is a potential 5-10 Million OZ find. 5 Million OZ / 12 Million Shares => .42 Oz Gold / share On the basis of these numbers I would say that BAM is a jnr waiting to explode, with share price backed by approx $120 Gold / share.

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