Maybe it is time for the market to realize that this company WILL have income after November 2009. The big players probably don't read agoracom, but they have to know from the NRs that Rexma will be producing 125,000 tonnes in the first year of a 6 year contract on Marudi Mountain. Even an Alluvial gold grade of 2-3 g/tonne would bring:

125,000 m3 x 2.7 tonnes/m3 x 2 g/tonne / 29 g/oz x $900/oz = $20 million

Now I believe right now Shorham has a 50% stake in Romanex. I also believe that the contract says that Romanex will get 10% off the top. People, please correct me if I am wrong.

So doesn't it make sense that the first year's production would net:

$20,000,000 x 10% x 50%= $1,000,000 to Shoreham's coffers? Thats roughly $100,000 a month.

The contract stipulates a 6 year term which may be renewable. The final ramped up production should be over 600,000 m3. So that is roughly 5 times the value of year 1.

So say the ramp up is linear and the rate of tonnage growth would be at around 100,000 m3 per year. Then this project would bring in $1 million in the first year, $2 million in the second, $3 million in the third, and so on until year 6.

The total project value for Shoreham, not including net present value of money, should be around $20,000,000. At 55,000,000 shares outstanding, this project would bring at least a 40 cent stock price.

Why this stock is sitting at .25 cents is just confusing. Maybe the market is waiting for production?