http://johnhelmer.net/?p=5524
"The cherry on the cake was unveiled on January 8, this year. New studies were showing, according to the BCI release to the ASX, that the company’s reserves were now 46.2 million tonnes, up 28% on the 2009 estimate, with as much as 80 million tonnes if the outlying deposits on the tenement were counted. Underground, BCI appeared to be getting richer by the day. But unbeknownst to the market, BCI’s board had decided to sell the lot, lock stock and barrel at $3.30 per share."
Reserves (Not DSO) = 46.2 Million according to the author.
Why does BCI say 36 Million in Reserves?
Also, 80 Million tonnes @ 6Mtpa = 13.33 year mine life or $5.6Bn in revenues @ a margin of $70t.
A note about the author. John does seem to have some good connections at Palmary Enterprises (owner of Consolidated Minerals). I'm not suggesting however that the article was written by or for ConsMin.
http://johnhelmer.net/?p=5524"The cherry on the cake was...
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