Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: John Dally who wrote (6830)	1/13/2003 6:01:55 PM
From: TrueScouse	Respond to of 39344

John: Regarding MR, thanks for pointing to your earlier post. You'd already come to similar conclusions to me -- that this could be a very good deal. However, you mention "800,000 ounces" as MR's share of Cerro San Pedro. Just to clarify, this is their 50% of the "Proven + Probable" Reserve -- but when you consider the overall resource, the potential is much greater than this. The figures are shown on Page 7 of MR's 2001 annual report at: metal-res.com MR's 50% of the total Resource (Measured + Indicated) is about 2.1 million ozs AuE -- with a bit more in the Inferred category. This is at $275 POG and $5 POS, with a 0.3 gpt Au cutoff. Based on 33 m. shares at $1.20 (Can), the market cap is $39.6 m.(Can) or US $25 m. approximately. Assuming that, at $350 POG, MR's 50% grows to 2.5 million ozs, that's only $10/oz of gold in the ground. IMHO, this is pretty cheap for a fully permitted project! Hmmm... maybe I'll buy some more tomorrow... Only joking! <<vbg>> Regards, Howy