Bayhorse Silver Inc (BHSIF)

[Mr. Zen]

Cocktail Napkin mathematics

I took all the recent grades per ton and found an average grade of 980 oz per ton.

Now with silver selling at $14.00 per ounce and lets say it takes $6.50 per ounce to mine and mill the ore that leaves a profit of $7.50 per ounce multiplied by the average grade (980/t), well lets call the average grade 1,000 oz per ton that gives us ore valued at $7,500 a ton.

Now the company can sell from the sample piles up to 15,000 tons per year before the mine is fully permitted….. so they have a short term cash flow of $112.5 million dollars…..

Those numbers must be out of whack I think we can expect $5 million in sales that would backtrack to giving the ore a $333. Oz/t grade … probably more realistic at that rate.