Ah, I see your point.
However, I was speaking of the one suspiciously similar description of a gold mine in California for sale at the same time that PTRZ announced an acquisition, with nearly identical descriptions of "1.7 million oz proven and probable reserves". Further research yielded the more detailed estimate of .07 - .08 oz/ton.
Comparing that to the Barrick operation (.25 - .32 oz/ton) at an extraction cost of $300/oz yields a speculative extraction cost of $900-$1500 per oz. I did not see a price on that mine, but its description gave the impression of a practically abandoned, or at least disused, gold mine; It is only conjecture on my part that it might be a fair equivalent to the auction listings of other gold mines posted here.
(Such are the devices of conjecture one is left to, when attempting to do DD in the absence of substantive information, unfortunately.)
So, my question remains: what would such a mine be worth? If it is worth a relatively small amount (a few hundred thou, or less), than I think this would explain how all of Mr. Hawkins' statements could technically be true, and yet not be realized in any appreciable share appreciation beyond what has already taken place.
And, FWIW, all the gold mine acquisition claims were made in press releases that were identified as belonging to PTRZ, not Petro Kansas.
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