Oct. 3 at 7:28 PM
$RITE People are starting to realize that the Gold alone that is sitting in the reserves at Skull Valley is significantly more than the total ASC 805 valuation of
$432 million. Go back and do the d/d. They had assays that showed 2-3 ounces per ton. With today's spot price, assuming 9% by volume of 278k tons of material, that is more like over
$800 million or more just for the Gold. This was a report prepared by The Blackstone Group back in 2008.
Rough estimate, this should be trading at
$0.10 -
$0.25 book value for common outstanding shares on Gold alone. JMO