Western Goldfields (WGW)

[ibreken]

Well with the shares out the market cap is under 500 million.
You do have to take into account the mine if fully funded so there shouldn't be any more dilution.
-2.3 million ounces of proven and probable reserves as of today(minimum).
-cost of production of $365 on the high end.
-give gold a price of $750 so $385 per ounce profit
-2.3 million ounces x $385 = 885,000,000 in profit
-165,000 ounces a year x $385 = 63,525,000 in profit (for 2008)

Now these figures are fairly conservative without expanding their resource estimate (the measured and indicated resource isn't included in my calculations [another 1.2 million ounces]). This was a mine they got from Newmont back when gold was in the $300 an ounce range. It's fully permitted and in the U.S. so no B.S. It's worth having a look at the website to see the numbers in their entirety. I think you'll find it pretty solid. It wouldn't surprise me if they are bought out by a major. They are currently the only multi million ounce mine in the U.S. not owned by a major