437,000 oz times gold price divide by number of shares (156.2 mill) less prod setup and costs; share price should be somewhere between 60 cents and 1.80; as well there is a possible huge upside to the deposit, see todays report and see where they are situated. Tell me where I am wrong.
Sydney 12/04/07 Midas Resources (ASX: MDS) reports an update of the Fortitude Resource, part of the company's Lake Carey gold project, is under way at RSG Global. The objective of this update is to enable classification of the in-pit Resource at a level of confidence that will allow mine planning and production scheduling for Ore Reserve estimation and financial modelling. This work by RSG Global will be ongoing during April and May. Midas's 100% owned Lake Carey gold project is situated in the Laverton Tectonic Zone in Western Australia's North Eastern Goldfields. The project includes the Fortitude gold deposit and adjacent satellite deposits, with combined Mineral Resources totalling 6.6 million tonnes grading 2.0 g/t (437,000 ounces of contained gold). ENDS
MDS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
