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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: freddy who wrote (14921)	2/18/1999 8:12:00 AM
From: hugh thorne	Respond to of 26850

the calculaton takes into account annual production for the next 15 years. With respect to # of shares, it should be a fully diluted number. i didn't have that info.

To: freddy who wrote (14921)	2/18/1999 11:55:00 AM
From: .Trev	Read Replies (2) \| Respond to of 26850

Having used my future travel shoes to look at Hugh's response I think he's confirming my understanding of how it works. NPV or PV if you like is based on the series of payments originating from Production and not the value of Ore in the ground. Itis an assessment of the money flowing from the mine into the owners poskets that gets discounted back to the present. Projections of FUTURE production rates of course have a component of reserves built in but that 's the only way reserves comes into it I believe. It's like the guy in the movies said "Show me the money!!" Cheers