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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: tyc:> who wrote (72056)	11/10/2011 7:07:38 PM
From: tyc:>	Read Replies (1) \| Respond to of 78416

When the purchase of Fenn-Gib was first mooted in May, its price was to be 29M LSG shares or ~C$60M. By August , the value of the LSG shares had fallen to ~C$33M and that became the book value of Fenn-Gib on LSG's balance sheet. Today, LSG proclaimed it as having the "potential to be a large-scale open pit deposit". Initial resource estimate will be announced by year end is expected to be 2-3 M ounces. (That's hardly a large scale project). If it's only 3M ounces its cost and book value is only about $10 per ounce.....at today's market it is even lower than that. Worth watching perhaps..