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Sunday, September 24, 2006 12:44:14 AM
I understand pps is based on profit, net profit BTW. However, revenue projection is all that has been estimated at this point, so I am using these numbers and analyizing accordingly. Please understand, my pps projections are very conservative. Actually, the normal multiple for gold stocks is much higher and your .10-.15 may be more accurate, taking multiples into account. I like the fact that estimates are for nearterm revenue generation from this project; possibly as early as end of October. And for EQBM to have obtained from Chinese govt. the environmental approval for extraction is a big hurdle completed in the process.
I also believe in the Red lake project more so than most. EQBM's Red lake project is adjacent to Goldfields highly productive project.
A very important point also I believe is the MM minipulation of the pps over the last few months. As I have stated prior, myself and others have had higher bids passed over for lower bids by MM's involved, more than once.
I will continue to hold +-2M share count and look forward to news out near term.
Best Regards
Not a buy or sell recommendation.
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