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Gold/Mining/Energy : JAB International (JABI) -- Ignore unavailable to you. Want to Upgrade?

To: tech who wrote (679)	10/29/1997 10:28:00 PM
From: Bnad	Read Replies (1) \| Respond to of 4571

>They'll make $9,000 that way per day. $300 (gold price) - $150 >(mining price per ton)= $150 X 60 tons per day = $9,000. At their current stock value, $0.97, times the approx. 41 million outstanding shares as of Oct. 1st (according to the SC-13D ownership report filed Oct. 14), BCMD is capitalized at $40 million (rounded to the nearest million). Assuming mining goes on 6 days a week, $9,000/day is about $2.8 million per year according to your equation--5% of current stock value. Maybe the stock could go up to 2 with that as a basis. However, the company has made lots of promises to keep itself afloat, and still has some outstanding convertible stock according to its form 10KSB of Oct. 14th. The company also has development costs at its other (possibly much less profitable) mines that will soak up $2.8 million like rock sponges (which they sort of are, on a large scale). If anyone can get through the whole 50-page 10KSB, it has everything you'd ever want to know about BCMD except how much gold they'll mine, and where else they'll get financing to keep going. Brad