FWIW, purchased an initial position in RIC today and added a few Alamos shares, which I continue to prefer over CBD, but I own both...
Calculate RIC at $49.36 per resource ounce, fully diluted... RIC is an interesting company but they must replace reserves or they will have to close one of their mines, also may have start-up problems getting another formerly closed down mine reopened... Only 760,500 resource ounces and production is currently around 100K ounces, closure of the one mine (by end of 2004 unless identify more reserves) would take production back down to 55K ounces, but RIC may well have their new/refurbished mine operating then to replace. Just took a quick review today, but RIC seems a reasonable bet at under $50 per resource ounce...
RIC=$49.36 GLG=$146.26 GG=$299.20 NEM=212.55 see additional comments at link above...
Market Cap per Resource Ounce RIC Share Price-US$ $4.25 Warrant & Option Shares 17,993,700 Shares-Fully Diluted 76,473,225 Working Capital + Exercise 38,935,849 Market Cap-Adjusted for W/C 37,537,376 Gold Ozs/Measured & Inferred 760,500 Market Cap/Resource $49.36 Cash Costs/oz.-June 2003 $219
Market Cap per Resource Ounce GLG Share Price-US$ $12.88 Warrant & Option Shares 133,666,378 Shares-Fully Diluted 1,721,622,949 Working Capital + Exercise 181,900,000 Market Cap-Adjusted for W/C 1,539,722,949 Gold Ozs/Measured & Inferred 10,526,980 Market Cap/Resource $146.26 Cash Costs/oz.-June 2003 $169
Market Cap per Resource Ounce GG Share Price-US$ $13.69 Warrant & Option Shares 191,039,000 Shares-Fully Diluted 2,615,323,910 Working Capital + Exercise 326,000,000 Market Cap-Adjusted for W/C 2,289,323,910 Gold Ozs/Measured & Inferred 7,651,400 Market Cap/Resource $299.20 Cash Costs/oz.-June 2003 $75
Market Cap per Resource Ounce NEM Share Price-US$ $38.59 Warrant & Option Shares 408,242,000 Shares-Fully Diluted 15,754,058,780 Working Capital + Exercise -1,930,303,000 Market Cap-Adjusted for W/C 17,684,361,780 Gold Ozs/Measured & Inferred 83,200,000 Market Cap/Resource $212.55 Cash Costs/oz.-June 2003 $212
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