Replies to post #33363 on Value Microcaps Junior Miners

[dr_airtime]

GORO: No IVA (Mexican VAT) Issues

Per my post linked one back. There aren't any IVA refund delay issues on GORO's balance sheet (would likely be in AR, not income tax receivable - IVA is a VAT tax).



Here is a short blurb I've found alluding to more systemic issue.

http://www.reuters.com/article/mexico-mining-idUSL1N1D1222

[Luke_McCain]

dr_airtime, thank you very much for your detailed plan.

Just what the doctor ordered!

Not familiar with most companies, except Perseus & First Mining Finance - owned them as FFMGF last year, and almost doubled my money in a few months. Keith's companies have been very good to me over the years.

If anybody is interested in their business model, here is a Back-Of-The-Envelope valuation:

FFMGF Price: US $ 0.45

Shares: 628.4 M

Market Cap: $ 282.78 M

Gold Equivalent In-Situ: ~ 11.75 M oz.

AuEq/Share: 0.018698 oz.

AuEq Valuation: $ 24.07

Conservative PPS Target @ $ 35 to 40 AuEq = $ 0.6544 to 0.7479

Aggressive (Long Term) PPS Target @ $80 to 100 AuEq = $1.49 to 1.87

Add a "premium" for Silver Equivalent In-Situ of ~ 26.5 M oz.

(Last year's Conservative Target was right on the nugget, but that was last year...)

Cheers,

Luke

P.S. My pleasure, rrten!