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Message: Penmont Ups Their Bid for Canplats

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Another way of valuating this..

in response to Re: Penmont Ups Their Bid for Canplats by Rickmm

posted on Jan 01, 10 08:33PM

One newsletter writer used the following calculations to determine that the original bid of $3.39/share placed the buyout value of $131/ounce.

At $4.80, this would be a valuation of $185/ounce. He is only using P+P reserves.

--------------------------------------
Canplats 10-09
Prelim Assessment
($750Au +$ 13.50Ag)
Camino Rojo site
--------------------------------------

********************************************
P+P Reserves
********************************************

1.71 mil oz (M&I oz,which we treat as P+P)

********************************************
Shares outstanding
********************************************

66 mil (fully diluted)

********************************************
Spot Gold Price
********************************************

$1,100/oz

********************************************
% of Spot Buyer willing to pay/oz
********************************************

61% = $670/oz

********************************************
Minus Life of Mine (LOM) Cash Cost/oz
********************************************

$340/oz (net of 900K/yr Ag)

********************************************
Avail to pay per recovered oz
********************************************

$330/oz recovered

********************************************
Estimated Recov Oz
********************************************

1.28 mil = 75% P+P

********************************************
Total Bid Value
********************************************

1.28 x $330 = $422 mil

********************************************
Minus Devlop Capex and on-going per recovered oz
********************************************

-$134 mil to Develop

- $64 mil ($50/oz)

---------

-$198 mil

********************************************
Bid Value less Adjustments
********************************************

$422 mil - $198 mil = $224 mil Net Bid

********************************************
Net Bid per share
********************************************

$224 mil /66 mil = US$3.39/shr

********************************************
Price /P+P oz
********************************************

$224/1.71 = $131/oz

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Investment Ideas

Like Canplats Resources ? Then you might also be interested in McLaren Resources

Blue Quartz Property surrounded by numerous past and presently productive gold mines

Black Fox mine (Brigus Gold), the Hislop mine ( St Andrews Goldfields)

Recent Drill Results include 63m of 1.21 g\t gold and 2m of 13.95 g/t gold

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Message: Penmont Ups Their Bid for Canplats

Another way of valuating this..

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