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Gold/Mining/Energy : Endeavour Mining (EDV.TO, EDVMF) -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (360)	4/26/2008 5:16:46 AM
From: Madharry	Respond to of 544

fooling around with the numbers im assuming that the mine turns out to have 12 million ounces which may prove conservative. pelangios share is 6 milllion ounces. at the current price of shares that equates to less than $50 an ounce for gold in the ground in canada and does not include any other assets. A year ago I was told that the deposit was economical to mine at $450 gold. Now if I was told I could buy a 5 year call on gold at $450 an ounce. what would that be worth to me? It would have to be worth a lot more than $50 even if someone said you had to wait until 2013 to exercise it. I would probably pay $250 for it at least. To me that means that over time the price of pelangio shares has to move way higher.