.0647 just to get to book value based on Dec. 31st financials Total stockholders' equity 19,728,610 http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=46889 but with all the new value added with recent acquisition and then of course the highly anticipated NI-43 to be released soon plus notwithstanding any new JV's, I think we have a ways to go before PPS truly reflects the valuation of WSRA
-Apr 20, 2011 Western Sierra Announces Arizona State Land Lease Approved -Apr 18, 2011 Western Sierra Reaches Preliminary Agreement to Develop the Silver Cord Mine -Mar 23, 2011 Western Sierra Expands Exploration Program -Mar 1, 2011 Western Sierra Initiates NI-43-101 at Gold Basin -Jan 26, 2011 Western Sierra Completes JV Agreement With Gold Tech Engineering to Develop Several Mining Properties in Arizona -Feb 1, 2011 Western Sierra Signs MOU to Joint Venture Mining Properties in Arizona and Nevada
GOLD BASIN with an estimated 550K Oz. of Gold is worth a potential sky rocketing PPS of $2.70 alone 550,000 Oz gold X 1500.00 price of gold = $825,000,000.00 with no mention to SILVER and SILVER potential to be $100per Oz.
so IMO it's easy to see why so many are starting to get all hot and bothered over WSRA the V:P value to PPS ratio is an incredible opportunity for any investor looking for a huge growth investment over time.
ITEM 6 – NUMBER OF SHARES OR TOTAL AMOUNT OF SECURITIES OUTSTANDING FOR EACH CLASS OF SECURITIES AUTHORIZED Common Stock .......................12-31-09 / 12-31-10 Shares outstanding 295,493,353 / 305,493,353 Freely tradable 40,253,353 / 50,456,558 Little to NO DILUTION year over year
Plan of Operations and Need for Additional Financing During the fiscal year ending December 31, 2010, the Company continued with efforts to seek, investigate and acquire additional properties or businesses.The Company is also utilizing some of the proceeds from the sale of the mining properties to begin a mobile high-grading operation which is anticipated to generate significant on-going revenues.
NOTE 4 - Mining Properties
Gold Basin Mine: The Company is in discussions with Pine Creek Mining to return the Gold Basin Mine to production. The Gold Basin Mine is comprised of four mining claims located on 332 acres in Central Arizona. Total proven gold reserves for the mine exceed 150,000 ounces with additional probable and indicated gold reserves of 400,000 ounces. It is anticipated that a final agreement between the Company and Pine Creek Mining will be executed in early 2011.
Gold River Mines: On May 5, 2008, the Company acquired eight mining properties from Gold River Exploration Inc. in exchange for 56,555,166 shares of the Company’s common stock and $50,000 in cash. The mines have a total of 88,000 oz. proven/probable/indicated gold reserves and 755,000 oz. of proven/probable/indicated silver reserves. At $1,200/oz. gold and $30/oz. silver, the gold reserves total $70,000,000 and the silver reserves total $9,000,000. SFAS 123 specifies that this transaction be recorded on the Company’s books at the fair value of the consideration received or the fair value of the common stock issued, whichever is more reliably measured at the date of the transaction. Since the Company’s stock had little or no activity in the six months preceding the date of the acquisition of the mining properties and since the reserves on the mining properties are well documented and certified by a licensed geologist, the Company has determined that the acquisition should be valued and recorded on the books based on the discounted value of the reserves in accordance with SFAS 123. The Company has therefore calculated the net value of the reserves, net of estimated production costs and discounted over the recovery period and to reflect uncertainties, to be $18,530,408.
Mud Springs: On July 27, 2005, the Company entered into an agreement with ASDI, LLC, (“ASDI”), whereby the Company obtained the rights to mine barite and placer gold on certain mineral claims owned by ASDI located in Crescent Valley, Nevada, hereafter referred to as Mud Springs., in exchange for a total of 20,522,634 shares of the Company’s common stock valued at $.075 per share for a total of $1,539,137. Under the terms of the agreement, the Company will pay ASDI a royalty of $5.00 per ton for each ton of barite mined and delivered. The Company will also pay ASDI 25% of the net profits from production from all placer gold removed from the Mud Springs property. SFAS 123 specifies that this transaction be recorded on the Company’s books at the fair value of the consideration received or the fair value of the common stock issued, whichever is more reliably measured. It was determined that the Company’s stock, based on recent sales and market activity, was
BENEFICIAL OWNERS No. of Shares Beneficially Owned Don Jenkins 50,000,000 2750 Cisco Drive South Lake Havasu City, AZ 86403 Michael Chaffee 28,502,000 2750 Cisco Drive South Lake Havasu City, AZ 86403 Dennis Atkins 26,720,000 2750 Cisco Drive South Lake Havasu City, AZ 86403
About Western Sierra Mining Corp
Western Sierra Mining is an aggressive gold and silver exploration and mining company focused on the historic mining districts of the Bradshaw Mountains of Arizona with additional areas of interest in Nevada and Mexico.
News 
Market Data 
Discover 
AI
