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Message: As far as I am concerned...

As far as I am concerned...

posted on Dec 07, 2007 09:24AM
Its all very good news and completely conistent with what we have been told, and what we believe, we have. One day this thng will wake-up in a big way.

I am also very pleased to see them concurrently conducting drilling and geophysics, and soon to be carrying out a baseline environmental study. This particluar paragraph is highly significant to my mind:

"Airborne geophysical data gathered this summer integrated with previous geophysical and geochemical data has further highlighted areas for future exploration. This data outlines an extensive gradiometer low and potassium high that has been interpreted as the expression of the area of hydrothermal alteration on Nithi Mountain. Within this area are located all known surface moly showings and moly-in-soil geochemical anomalies. There is a near perfect correlation of all this data."

And this will also be very important:

"Ore samples from the Gamma Zone are currently being forwarded to G & T Metallurgical Service for analysis. The samples consist of three 100 kg composite samples at differing feed grades to be tested for the metallurgical response of the ore."

Here is some theoretical numbers/calculations for us to consider:

- 1000m x 500M X 75m(depth) = 37,500,000 cubic meters.

- 37,500,000 x 3.5(estimated conversion factor) = 131,250,000 tonnes

- 131,250,000 tonnes at our grades would result in about 1 pound of Mo/tonne according to Davis.

- $25/lb Mo - $10/lb (mining costs) = $15/lb Mo

- $15/lb X 131,000,000lbs = $1,965,000,000 X 15% (use this figure because I think start-up costs would be low) = $294,750,000

- $294,750,000 / 72,000,000 shares = $4.09/sh

Remember these are just guesstimate numbers, but also that this is just based on Gamma, and that Gamma remains OPEN in all directions. This also does not factor-in the recovery rates of Mo in processing, but even if you knock off another 30%, I think it still demonstrates that we very undervalued.

I welcome any corrections, questions, or alternative points of view from the serious contributors here.



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