Quote: "I believe most all longs on this board would be more than happy with a price range of .01 to .05 for PRMO but $.50 is not in the cards,......"
If everyone and their cousins want a piece of the pie, it will fly. If PRMO announce all gold tonnage (in terms of estimated pure gold tonnage) in inventory and in the ground, it will fly.
At this point in time, based on all PRMO's reports and PRs, there is not enough information to calculate the true value of this company. This is one of the reasons why they are triple zero.
They say they have 6100kg gold bearing material in June 2009. It doesn't mean much because the gold content and grade is not published. Although they claim high gold content, it doesn't mean anything in real term.
They say sufficient reserve in perimeters for 5 years production. But the perimeters have not been fully assayed. Can't calculate the pure gold tonnage in the ground.
Based on my ballpark calculation (limited information from PRMO reports and lots of optimistic assumptions), PRMO has 23,000kg of gold bearing material. It includes current inventory (10,000kg) and next 5 years production (13,000kg). Say average gold content at 91.3%, it means 21,000kg pure gold, or 675,150 troy ounce of pure gold.
The PRMO web site indicates gold content at 91.3% AU, based on grab samples. If it is consistent through out all perimeters, the above calculation is a reasonable estimate.
If it is sold today, at $1340/troy oz.
21,000kg x 32.15 oz/kg x $1340 = $904,701,000 USD
Thus, the present value of PRMO is ~ $0.9B USD
The PPS should be way up there.
I have been writing message about inventory and perimeters, also pure gold tonnage. This is vital information that should be published. Investors can bid accordingly. PRMO's pps will reflect the true value, which I think should be in pennies, or up to $0.50 USD.
All IMHO, and ballpark calculation. Do not invest in stock based on the above.
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