WHY AM I BOTHERING TO SHARE THESE THOUGHTS of mine....thoughts based on possiblities, not probablities....which I know can create a lot of nasty comments from some, out there who are professional cynics, form strong dislikes of a poster, and will take any opportunity to twist what a person is saying to make some nasty, snide, comment?
Here's why. I know there are some very shrewed surfers out there who are far better at maths than I, and some also at being able to root out information.
And, more heads are better than one.
We need some idea, if only a rough one, of how much potential gold there could be in the company's mining assets.
I will disclose here what I have dug out. The first bit is from a report just under 12 months ago:-
Source: Great West Gold, Inc.
Great West Gold, Inc. -- Valuation of Mining Assets
Company Reports On Valuation of Its Mining Assets
NEW YORK, Nov. 3, 2006 (PRIMEZONE) -- Great West Gold, Inc. (Pink Sheets:GWGO) has been inundated with stockholder requests regarding the value of the Company and its Mining Assets.
The Company is still awaiting detailed reports and valuations on its various properties and is reluctant at this time to place a definite valuation on its Mining Assets.
Stockholders are assured that the value of the Gold Mining Exploration assets being merged in the "Treasure King Gold Group" and the "Sentinel Gold Group" as well as the Copper Mining Exploration assets being merged into the "Copper Mountain Mining Group" will not be less than a total market value of US$800 million after the planned de-merger of the these Mining Exploration assets into three OTC Quoted Companies through "Reverse Mergers".
Whilst many stockholders are of the opinion that the value of these Mining Exploration assets is considerably higher than we are stating, the Company will continue to take this very conservative valuation approach in the absence of completed Competent Person's Reports and updated valuations. The Company acknowledges that the strong commodity prices at present will have a positive effect upon the final valuations. .................'
Since this report, the gold price has increased about $60 an ounce. May analysts believe it is going MUCH higher.
At this time the Mining Holdings were:-
About Great West Gold, Inc.
Great West Gold, Inc., www.greatwestgold.com, is a gold mining exploration stage company engaged in the acquisition and exploration of mining properties in the United States. The Company has Gold assets through its holdings in "Bouse," "Mockingbird", "Ambassador", "Yaba", "Golden Eagle", "Bonanza," "Storm Cloud," "Starlight," "Venezia," "Federal," "Buffalo Lime Cap," "Red Cloud," "South Copperstone" and "Gladstone Lookout" Gold Mining Projects. The Company's Copper assets are "Copper Mountain," "Swansea," "Tip Top" and "Mineral Mountain."
The Company holds five of these Mining Assets through its 51% holding in Bouse Mining Holdings plc, Copperstone Mining Holdings plc, Ambassador Gold Holdings plc, Golden Eagle Mining Holdings plc and in Sentinel Resource Holdings plc. The other Mining Exploration Projects are 100% controlled by the Company
The number of shares outstanding is about 320 million. Now, just imagine there was only a mere, one off, 10,000 troy ounces of gold involved, (and that is VERY small) and the price rises from its current around $700 to a $1000, that would mean a valuation of $10,000,000 in gold. Which, in my maths gives a share valuation seven time what it is now. (Don't forget, the POG s already about $60 an ounce higher than 12 months ago.
I am hoping that with the math elite out their, and the Sherlock Holmes's for sniffing out the clues, we can possibly get a round minimum value figure. Anything then coming from the credit card busines could be cream on the coffee.
Well, its something to fill in the time while we wait for further developments.
