If we were to get something like this, then the O/S would double to 400M, so that's roughly a .15 PPS now that I think about it.
This is a great example to follow for us to put a value on FGOC. All someone would have to do is bid roughly $30M to pay off all debt and take a 50% ownership in the mine leaving 50% to us and utilizing the $50M in NOL's. Basically reinstating FGOC.
Going forward, the mine life is expected to be 4 years producing 60,000 ounces of gold/year. If they do that 2011-2015 at say an average gold price of 1500/oz then thats $90M/year in rev....Should be no problem to get $20M profit out of that/year, that's a market cap of $300M. If the O/S becomes 400M thats PPS .75 going forward.
Crushing Pinklyland Est. 2009
