Tuesday, June 21, 2011 1:42:31 PM
1,175,000 oz. - cummulative developed reserves
x 1500 - gold price per oz.
1,762,500,000 - gross value of reserves
- 376,000,000 - cost of processing at $320/oz.
1,386,500,000 - new worth of reserves
Now consider the current O/S of only 58,355,175 shares.
This puts the potential share value at almost $24 a share if reserves are anywhere close to where they think they are. I also didn't factor in that they only have a 54% interest in Andes' mines, so the overall net worth might be lower.
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