Jim: Thank you for the post on where/how to obtain the "report."
I called Ed, and he faxed me the three page letter written by
Russ Twiford, and he said the rest of the data was "nothing new."
IMO, the most important point was his "potential" cash flow pro-
jection of approx. $70,000/day running only 1/5 of the mill's
capacity with costs of about $4,000/day ($200/ton). 70K - 4K X
300 operating days/year = $19,800,000 divided by, say, 20 mil. shares
= $0.99/share gross operating profit.
Put a multiple on that of 20-25 and you have a $20-25 stock.
Ramp up production to a full 100tons/day, and you're near the
century mark. Add in the Oro Grande and Weaver Creek reserves and
you've got another BRE-X... or please tell me where I went wrong.
Anyone: How much capital would it take to get into production on
that size scale? My uniformed guess is not too much. How long would
it take? Again, my uniformed opinion is not long. Does this mean
our patience is about to pay off, or are we being led to the trough
again, only to find out it is a mirage?
I look forward to the thoughts of our thread "experts" in regard to
the "report."
Does anyone know Jensen's reaction to Twiford's letter?
The last time I spoke with Dick Jensen, he mentioned that the annual
shareholder meeting would likely be APRIL 1997. It could be a very
interesting meeting.
Regards,
Jeff Williams |
