Discovery Minerals LTD (DSCR)

[HokieHead]

Actually they factually have reserves, I’d tend to believe the Idaho Bureau of Mines:

https://s3.amazonaws.com/s3.agoracom.com/public/photos/images/5085/large/Idaho_Bur_Mines_WEM_report.jpg

From a prospectus on the same land:

The Sinker Tunnel Complex (L530) near Silver City, Idaho summary from 2011:

If the weight of ore remaining to be mined amounts to 1/3 of the original lode deposit (which is thought
to be grossly underrated), a net present value of $141,210,472 is obtained for a fifteen year average
total annual pro forma income stream before taxes of $9,414,032.

If the weight of ore remaining to be mined amounts to 1/2 of the original lode deposit (a more favorable
and hence less likely result), an only slightly less arbitrary discount rate of 15% is used and a net present
value of $282,420,945 is obtained for a fifteen year average annual pro forma income stream before
taxes of $18,828,063.

In the most favorable and least likely event that 2/3 of the original ore remains for our mine, a discount
of 18% is used, for no justifiable reason, and a net present value of $564,832,020 is obtained for a
fifteen year average annual pro forma income stream before taxes of $37,655,468.

Estimated annual production of ore varies between the three scenarios in anticipation that a smaller mill
would be used for smaller reserves available during the term of the lease. Larger mill facilities could
shorten the time taken to mine and process discovered ore reserves and would, consequently, improve
the net present value of the income stream.