North Bay Resources Inc (NBRI)

[Cee-It]

If I had to do this estimate over (which I believe is very conservative) -- I'd give them a generous three years to accomplish the extraction:

Reasonable BTax Profit Estimate $62 MILLION
Spread over THREE YEARS EQUALLY

$21 MILLION PBT per YEAR

10 times earnings $210 MILLION projected CAP
~~~~ YIELDS over $2 per SHARE

AND -- one should keep in mind that's not including any other projected income, such as might come from Silver Quest Resources, all of those other properties, etc.

So, $21 MILLION PBT per YEAR is my LOW side expectation for 2012, 13 & 14... certainly making NBRI worth 30 cents immediately and rapid growth from there to over $1 by end of year.

If there are no substantial delays (which is not likely in the Junior Miner world) then 2011 should produce the first MONTH of profitable operations (roughly October to be reasonable).

GLTA holders in NBRI
NOW is a great time to be accumulating!