SUR: Wow, that's a nice chart. What do you like about it? ===============================================================
Dave, Tho you didn't ask me, this is what I like about it, chronologically speaking......
It almost seems too good for as stock selling for 0.35/sh. I tend to think their Philipine location has a lot to do with that......
Sur American Gold Corporation: Assay Values up to 118.7 g/t Gold Wednesday August 20, 2:17 pm ET Widespread Gold Mineralization Encountered from Trench Sampling at Comval Project, Philippines
Sur American Gold Corporation: New Vein Discoveries of 127.5 g/t Gold and 42.6 g/t Gold Extend Known Limits of Mineralization at Comval Gold Project, Philippines Thursday September 25, 8:45 am ET
Sur American Gold Corporation: High Grade Gold Assays Such As 127g/t, 118g/t, 42.6g/t, 28.8g/t and 22.4g/t At Comval Gold Project Wednesday October 1, 8:45 am ET Philippines Prompts Decision to Commence Trial Mining and Processing Operation
SUR: Wow, that's a nice chart. What do you like about it?
I'm putting it on the hot lists. Sure beats waiting for SUF to do something. And I only have to change one letter in the watch list LOL. ==============================================================
Hi Dave, It's been a while since we last heard from you. I hope all is ok in your world. I just found this on oeo2oo's SUR board..........
Not so idle speculation.
From Sur's Interim Report filed with SEDAR on 12/1/03:
More than 7,000 metres of surface trenching and 460 metres of underground development carried out to date indicates that, in addition to the main veins, the intervening ground appears to be pervasively mineralized averaging about 1.4 g/t gold.
Including the higher grade veins, the average of more than 700 samples is 1.6 g/t indicating the distinct possibility of a very large, medium-low grade disseminated gold deposit.
Based on reports by a former operator of pervasive mineralization being located over a much larger area surrounding Batoto, the Company has set its 2003 goal to determine the full extent of mineralized zone(s) by systematic geological mapping and extensive sampling.
OK, here's the math:
Based on 1.4 g/t (overall grade could be higher)
1300mx500mx350m = 227,500,000 cubic meters x 2.5 tons/meter = 568,750,000 mil tons of ore
568,750,000x 1.4 g/ton = 796,250,000 gms total
796,250,000 divided by 31 to get troy ozs= 25,685,483 ozs
25,685,483 x 75% recovery =19,264,113 recoverable ozs
19,264,113 oxz x Sur's 70% ownership = 13.48 million ozs
13.5 ozs valued at $50 oz in situ = $675 million
$675 / 50 million shares = $13.5 per share.
Anyone willing to wait three years for $13 a share? :-)
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