I think the board needs some filler while we wait so its time for another Silvermark "Potential" post.

We know the risks. Takeover, inability to get financing, Canada nationalizes mines, no permit, crappy FS, earthquake, etc.

ASSUMPTIONS:

No take over, Tyhee gets financing, gets permits, gets a positive feasability study and the Canadian Government behaves.

Production rate of 120,000 oz/year, shares outstanding @ time of production of 500 M, total debt @ start of production of $150 M @ 8% APR and 8 year amortization which is monthly debt. service of $2.12 M or $25.44 M annually, operatiing cost $600/ounce (Current est. per PF is low $500's), Gold @ $2,000.

Yearly Gross: 120,000 X $2,000 = $240,000,000

Yearly Net: $240 M - (120K X $600) - (25.44 M) = 142.56 M

Earnings per share: $142.56 M/ 500 M shares = 0.285

Assume PE ratio = 15

Therefore price per share = $4.28

At ALF's numbers its $33.08

If production rate increases it's higher.

If there is a "blow-off" phase in the gold bull its higher.

I am still buying TDC, Gold and Silver bullion.

SM