Replies to post #2413 on Sierra Resource Group Inc. (fka SIRG)

[lmcat]

My expertise is in researching mining companies, not math, and I followed SIRG starting last Jan. watching as it dropped as the convertible note holders dumped their shares. When it bottomed in late July, I started buying and have continued to add on dips.

SIRG's net assets are $7,505,529 and at today's price of .0045, it has a market cap of only $655,300.

To equal that $7 million asset value, SIRG should be trading at .05 so I consider it grossly under valued.

SIRG's target is to produce 7,000,000 lbs. of copper a year. With copper at $3.50 a lb. and a production cost of $1.25 pr lb. SIRG would have a profit of $2.25 per lb or over $15,000,000 per year.

Now that would be one beautiful 10K! I plan on waiting to see it.

Maybe someone with better math skills can adjust or comment on my findings.

I know SIRG can deliver copper cathodes to Long Beach at a much lower cost than the other 3 copper companies I am following.