Dazza & Sculpin, very good posts this morning.
Sculpin, to add to your Gluckstein report comments, of having a buy rating @ $2.70, remember they put in their report that they used an extremely low (discounted) price of only $75 per OZ in the ground, to come up with those numbers. Things have changed drastically since then as well, with all the work SLI has been doing.
In the Math we've done in the past, I also know I use an extremely low gold in the ground price ($150 per OZ). But everyone can do their own math in their head. Bottom line, just take a multiple of how low you think my number is, and come up with your own share price number.
All this once again is based on the following conservative (IMO) factors:
- Only using the Zona Central Anomaly (so much is being left out of the equation!)
- Only 1g/T (they averaged 29g/T in the bulk sampling)
- Scaled by 68%
- 2.5T/M3 density, when it should be 2.75T/M3 (from the 43101)
- 130 Million fully diluted shares outstanding (we presently show less than that)
- $150 per OZ in the ground (the present average is approx $700 plus per OZ)
-
Trenching not included, but see below at end of post
So bottom line, that gives you 102 Million OZ and a share price of approx $120 per share
So, if you think the $150 per OZ is low (which I for sure do), then how low is it?
$120 per share @ $150 per OZ
$240 per share @ $300 per OZ
$360 per share @ $450 per OZ (And that's as high as I go, or wish to post!)
Trenching: Another very interesting thing, will be the trenching results. But again, if you play around with some numbers, and just look again at the Zona Central Anomaly, and assume 200M in depth (1500M depth from Quantec minus the 1300M depth of the anomaly), and assume only 0.25g/T (which was the result from the initial very small trench program), this number is not scaled, but just this would give you another 12 Million OZ! WOW! That's almost 5 times more than the Andean & Goldcorp deal of 2.54 Million OZ, just the trenching above the anomaly
We're all waiting for the drill results (me included), but I think the extensive trenching program are going to make a few heads turn as well!
The only time Math can lie to ya, is if you're plugging in exaggerated (too big or too small) numbers, and I think we're trying to make it lie on the LOW side!
Bow2U
