488 mt maiden resource!!! , page-24

Cheer, Cheer Bizzo! In answer to your question as to my valuation, firstly can we look at the tonnes we might have. If we already have 488 million tonnes from only 15% of the plateau (which is homogenous) with 28 holes already drilled but not included in the jorc plus a furhter 136 holes to be drilled to complete the program (and lets not forget that the specific gravity has been based on the most conservative side until Coffey has more diamond drill holes to satify their criteria) we surely must have a minimum of 600 million tonnes from just 15%. That my fellow energioites means we are most likely sitting on 4 billion tonnes plus here for the whole plateau.
Energios plan going forward is to complete the drilling of the 15% to increase the jorc plus diamond drilling to change it from inferred to indicated then to do step out holes across the plateau to give us a global resource. Meanwhile, the metallurgy is being completed with the first results due early November.
I estimate that the company will need around 5 million dollars to complete all this work and by June 2013 we should have an indicated jorc of 600 million tonnes with a further 3.5 billion tonnes to add to the equation.
So, adding 25 million shares at current prices to raise $5 million gives us 270 million shares on issue.
The infrastucture in place, the shallow depth and accessibilty of the ore, cheap production costs (inc. fuel, electricity and labour)have all been mentioned here numerous times before and must add significant value to Energio.
Therefore, I firmly believe that we are sitting on a billion dollar asset at this very moment subject to positive metallurgy results coming out in early November. (Our ultra conservative management have already indicated preliminary results are most promising).
So *one billion into 270 million shares is $3.70 a share. Dont stress about what price to sell out at either...Im positive that decision will be made for us by way of a successful takeover bid.
*12 months ago, IB told me he thought this asset was worth a billion bucks, why would I have ever doubted him!

Anyhow, off to celebrate now...cheer, cheer the red and the white!