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Thursday, December 09, 2010 7:43:16 AM
These values were actually back when gold was at around $1075 an ounce. There should be a 30% increase in valuation since gold is near $1400 as I write this. Given that SAEI has Inferred and M&I Values now just for their one lot.
Values at $1075 an ounce
US$20 per ounce Inferred
US$30 per ounce for M&I
US$160 per ounce for P&P"
Current values using this model:
US$25.70 per ounce Inferred
US$38.55 per ounce for M&I
SAEI Valuation:
5,439,000 Indicated X 38.55 = $210 million
14,318,000 Inferred X $25.70 = $368 million
Total Reserves for this property in Gold Only = $578,000,000
$578 million / 61 million OS = $9.47 per share
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