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Gold/Mining/Energy : Medinah Mining Inc. (MDHM) -- Ignore unavailable to you. Want to Upgrade?

To: Handshake™ who wrote (7403)	12/2/1998 10:25:00 AM
From: Mike Gold	Read Replies (1) \| Respond to of 25548

"Mike, haven't really thought about it too much.." Vince, think man or I will do it for you! :) Take 100,000,000 cubic meters of placer ore at a conservative recovery of 1 gram/cubic meters... this works out to a resource of about 3.5 million ounces. If we assign a value of $25/ounce in the ground, this gives a price of $88 million dollars. Since the resources is not that well defined, lets give it a 50% discount or $44 million. And since MDIN is in need of some cash-lets run a blue light special and take off another 50% or $22 million. So I think a fair starting point for sale of the placers would be $22 million. This works out to about 50 cents a share-not bad!