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Gold/Mining/Energy : A STOCK TO WATCH THIS WEEK -- Ignore unavailable to you. Want to Upgrade?

To: CLK who wrote (544)	8/9/1998 7:39:00 PM
From: zebity	Read Replies (1) \| Respond to of 602

BAM Longline assays returning up to 186 g/t Barramundi Gold Longline project is really heating up, some of the assays are returning very high grades, which are spread over large areas. A bulk sample has been done that returned 3200 ounces using a very primiive gravity extraction process that likely only removed 10 - 20 % of the gold. This means that BAM longline tailings are worth: TG * .2 = 3200 => TG = 16,000 oz => TUnextracted = 16,000 - 3200 = 12,800 oz If this was processed using modern techniques with 90 % return: TailingOz = 12,800 * .9 = 11,520 oz Value of Tailings = 11,520 * 280 $USD/oz = 3.2 Million Given that this is tailings, cost to dig them up is zero, cost to process and transport is around: .5 Million Thus value of: 2.7 Million USD. This money could then be put into further defining Longline deposit, which is a potential 10 Million OZ find. 10 Million OZ / 20 Million Shares => .5 Oz Gold / share On the basis of these numbers I would say that BAM is a jnr waiting to explode, with share price backed by $150 Gold / share. Good luck, and thanks for the discussion (I did not take into account all the shares which had been issued privately, in my earlier assessment). Though what I said earlier about most shares having holding restrictions on them is still correct, which mean floating shares on the market is still only around 5 Million.