Seeking multi-million ounce gold deposits in proven gold producing areas in the USA
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Message: 20 Million Ounces

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Re: 20 Million Ounces

in response to 20 Million Ounces by MrMate
posted on Nov 06, 09 02:49PM

I think all he is saying is that the system is very similar to Cripple Creek. There is no reason to think that we have 20 million ounces or anywhere close to that but, we may one day find that we do. Rough calculations and I stress rough because, there is no way to know with any precision using what has been released, shows that we have somewhere between 2 million and 5 million ounces.

Based on the top end of 5 million ounces and $1200 gold we can guess at where our future value could be.

5,000,000 ounces X $1200 = $6,000,000,000 / 91,000,000 shares = $65.93

Take an insitu value is somewhere in the range of 10-40% of the total deposit value. There are many factors at play here.

65.93x.1= $6.59/share

65.93x.25=$16.48/share

Note: this situation is based on a buyout and only considers RSH.

We would need some pretty amazing results from the last few sets of asseys to prove 5,000,000 ounces but, depending on if and how the North Stock and Antelope Basin connect it is possible.

Use 20,000,000 ounces and 40% insitu value and we get something that we aren't even close to discussing.

All of this at this point is just a fun GAME.

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Quinton Hennigh, Ph.D., P.Geo.
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October 23, 2009

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