Here is a cleaned up version of the Summary. I knew taking German in high school would pay off one day! [My comments are in brackets and are IMO.]
All assumptions are very careful! [5-year projections calculated using a fixed price of gold at $1400/oz.] Production may occur earlier and faster, the Gold prices can be significantly higher, with the total costs accordingly lower. Nevertheless, with these assumptions there is a high upside potential.
Summary
- North Bay acquires a mine in good condition with facilities with a replacement value 3.5 million USD for $ 2.5 million.
- The mine is dry [no need to spend money to pump out polluted water], fully approved and is known for large nuggets. Resources estimated to be at 500,000 ounces (not NI 43-101 compliant).
- Qualified personnel are problems to get.
- The venture capital firm Tangiers will provide a bridging loan and be a major shareholder.
- A non-dilutive fixed interest financing for ACG the EB-5 program is near final approval.
- Extremely low market value, with low equity float of 58.35 Million.
Conclusion
North Bay offers a story that is not commonplace and with promises of very high gains. Certainly the final approval for the extension of NCRC has not yet arrived, but a rejection is highly unlikely. And if it happens, to purchase the Ruby Mine and start production, it will reduce the possibility of the Tangiers equity bridge loan from diluting.
Courageous investors engage in current rate of limit orders on the OTC market [that's us!] (still no trading possible in Germany). We [Germans], slightly risk averse, are waiting until the NCRC is approved. [The Chinese are waiting, too...] As usual in the course already the profits of the next few years are priced, whether North Bay trades in Autumn-Winter this year at $0.25 to $0.40 Record USD per share, of course, depends on the company's progress. In the longer term is even much more potential with possible positive surprises from exploration projects in B.C. and further mine acquisitions in California.
An opportunity to all to be there early.
About the author: He studies certified business deals since 1994 in the precious metal markets and analyzes for several years mining companies. His specialty is Canadian exploration companies.
