Thursday, April 01, 2010 5:49:47 PM
And when you read those post remember this.....THEY ARE ALL WRONG!
Mike has decided that he would be happy with just $1.00 per share. And he is quite correct that 50 x's our initial investment would be a great return.
But and here's the BIG but, look at the size of the mine that they have pictured over on Mining Play. Or better yet go on line and google Kinnecott copper mine south of Salt Lake. And then remember that those mines are less than 40% the size of the property that Medinah and Cerro and Juan own.
Is there mineralization throughout the entire Alto? I don't know and neither does anyone else for sure. And does it go all the way down to sea level. I got no idea.
But if you just do the math there is over 296 billion metric tons of dirt on the Alto. If just 1% is mineralized that still equals 2.96 billion metric tons of dirt. Now the question is....How much is a mineralized metric ton of dirt worth? Obviously it depend on how much gold, silver, copper and moly can be found in each ton. Even if the total is just $100/metric ton you're talking $296,000,000,000. Yes that's billions. Over the life of the mine.
So we get 15% of that (I have heard a rumor that our percentage is now up to 20%), that's 45 billion dollars of which 40 -45% belongs to Medinah. Juan gets 15 Billion (his cut is 33 %), Medinah gets 19 billion and Cerro gets the rest.
Our share is roughly $30/share. Mining stocks trade at 6 itmes value.....no I won't even go there. But my point is that I would hope when we all start thinking about selling out we take a much harder look at how much we are willing to sell for.
Oh and for those of you who wish to check my math I used 120#'s per cubic foot of dirt, a normal cubic foot is 99#'s and I figured quartz, copper and all that other stuff 120#'s per cubic foot was fair. I also used the Alto at an average of 5000 feet. Of course it could be less but since I only took 1% of the total I have to believe it averaged out.
FEATURED POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM
Green Leaf Innovations, Inc. Expands International Presence with New Partnership in Dubai • GRLF • Jun 24, 2024 8:30 AM