This off topic but in the same area. The sec stopped trading in mslm, mascot lead and zinc last year at this time. The company is assumed to be worthless despite actually owning 250 acres that they had timber sales from in 2006. This was in the area of the valley with more lead and zinc and less silver than other areas. That would be to the west of the Bunker hill complex. Now in 2010, the government and the Indian tribe accepted a settlement for environmental claims for 50k from Mascot. The government also went to the trouble of putting in claims for royalties in the event mining took place on that property in the future. These pink sheet companies have very little assets, but they also have very little expenses and no big liabilities. One of the reasons , the sec gave was no one responded at company to inquiries. Perhaps Joe Wallace died. There was some old info on mslm at ihub. The company also owned a small interest in New Jersey mining and has some claims in Montana. Perhaps you could buy the company for a little over the 780 dollars the company is "worth". It's still a mystery to me the event that suddenly the company was deemed to be worthless. Thanks in advance if you could find out something.
Even if they have 50 million ounces (big if ) they own 20 % net profits interest and you have to wait until Sunshine covers their cost. You also own a 4% nsr but will more than 2 million oz per year be coming from the chester and I think will take more than 5 years. Instead waiting 5 years with Chester, only 15 times the market cap gets you near term exposure to 1 million ounces with rvm at troy. I am told that rvm is further along in the permitting process than mgn. Let's assign half the market cap of rvm to rock creek so about 8 million. No value for the 2 billion pounds of copper. 8 million buys you 250 million ounces of silver - for a 100% interest not a 20% net profits interest. That's 3.2 cents per ounce. Finally if you are new buyer of chmn versus rvm you are going to be turned off by the huge spread which right now means the price has to almost double for you to break even. I think the spread may change with renewed interest but one can't be sure of this. Remember when this new posting began, I stated that the crash in some bigger companies had made their valuation story just as compelling as Chester and the reserves were more established.