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Gold/Mining/Energy : ATLANTA GOLD CORP. (TSE:AAG)
TWG 3.860-5.1%3:59 PM EST

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To: Ronald P. Margraf Sr. who wrote (271)2/25/1997 9:44:00 PM
From: Ron Everest   of 495
 
RPMsr: I am trying to value the TWIN CO.

Shares
AAG 17,981,679
VSY 9,559,264 x 1.5 = 14,338,896

Total: 32,320,575

Options: ? someone mentioned that 50mm was the figure with options, sounds like a lot of options. Perhaps next time you phone them you could clarify.

1,350,000 oz AU, value @ $100 US
2,500,000 oz AG, what value does one use for the AG, I will use $1.50US

Total Value US = 135mm AU, plus AG = 3.75mm
Total Value CAN$ (135 + 3.75)*1.355 = $188mm

Value fully diluted if the options number stated is correct:
$188,000,000 divided by 50,000,000 (shares + options) = C$3.76

Pick some holes in this. If C$3.76 is correct, then why
are these stocks trading so low, you get the Indo free???


If $100 for AU is too high, then use $50US plus the AG and you get a
value of: C$1.78

Thanks,
Ron E
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