Replies to post #44734 on Prom Resources Inc (PRMO)

[crazyjogger925]

what happened to the 09 inventory now 6100 kg of gold barring material?imo below mentions how easy it is to liquidate!imo why the delay on the ghana story till now?$4.5 million in new mining equipment proof please?
employee housing proof at the site please?new perimeter resource data please?ivory coast location and data please?new refinery name please?imo




For 2009, the Company had sales which amounted to $3,027,000. The sales generated a gross margin of 489,631. Sales in 2008 were $1,250,000.
The sales generated a gross margin 951,225.
Liquidity and capital resources
The Company's main source of liquidity is its inventory of Gold Bering material. The Gold barring material is readily liquid and the amount in
inventory when liquidated would not impact the market to cause a negative impact to the value of the inventory or the world market. The
inventory consists of the following:
-June 30, 2009 6,100 Kg of Gold Bearing Material.
Management does not give estimate

[DC168]

In regard to inventory in financials, management are reliable to the gold tonnage written on reports, which is 6100kg as of June 2009. They have been producing in last two years, the inventory should be ~10,000kg by now. Based on the previous sales since 2008, the estimated market value of inventory is as follow:

10,000kg x $1550/oz x 32.15 oz/kg x 96%(purity) = $478,000,000 USD

Mining cost as of Q2 report at 25 %, or 75 % net profit

Net profit is $478,000,000 x 0.75 = $359,000,000

For 8.4 B common shares:

$359,000,000 / 8,400,000,000 = $0.04 / share

I wish PRMO is real.