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Re: sanbrunobaby post# 79

Thursday, 02/05/2015 7:53:35 PM

Thursday, February 05, 2015 7:53:35 PM

Post# of 88
Even if they have 50 million ounces (big if ) they own 20 % net profits interest and you have to wait until Sunshine covers their cost. You also own a 4% nsr but will more than 2 million oz per year be coming from the chester and I think will take more than 5 years.
Instead waiting 5 years with Chester, only 15 times the market cap gets you near term exposure to 1 million ounces with rvm at troy. I am told that rvm is further along in the permitting process than mgn. Let's assign half the market cap of rvm to rock creek so about 8 million. No value for the 2 billion pounds of copper. 8 million buys you 250 million ounces of silver - for a 100% interest not a 20% net profits interest. That's 3.2 cents per ounce.
Finally if you are new buyer of chmn versus rvm you are going to be turned off by the huge spread which right now means the price has to almost double for you to break even. I think the spread may change with renewed interest but one can't be sure of this.
Remember when this new posting began, I stated that the crash in some bigger companies had made their valuation story just as compelling as Chester and the reserves were more established.