BMO bastion minerals limited

some off the cuff calculations, page-3

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    hi andalisa

    number of share 98.8million

    fully diluted market cap $26million

    granting of mining lease will trigger a payment $1,000,000 to former owner barrick mining.

    which would suggest some form of capital raising, seeing cash reserves will be depleted by the above.

    if you want give me your e-mail address and i'll send you some info..

    regards


    Subject some off the cuff calculations
    Posted 17/11/04 4:06:05 PM - 25 reads
    Posted by andalisa
    Post #421219 - start of thread - splitview

    BMA Gold (BMO) issued a media release last night which announced a JORC-compliant resource of 526000 tonnes @ 19.3 g/t for 327000 ounces, with more gold in the inferred category.

    BMO's market cap is currently 54M shares @ 25 cents or a total of $13.2M.

    Using the firgures previously mentioned in HC, from MiningNews.net, we are looking at an $8M development cost if they truck the ore, and operating costs of $100 per ounce. This sounds reasonable, given the grade of the ore. They suggest a possible mining rate of 80000 ounces per year, which would give a mine life of 4 years based only on current reserves.

    Gold is currently $560 per ounce, so the operating margin per ounce would be $560 - $100 = $460, which would give a total operating profit per year of $460 x 80000 = $36.8M before tax, etc.

    Over the life of the mine the pre-tax profit would be $147M.

    Compare these figures with the market cap of $13.2M.

    Miniing is likely to start in 2005.

    Orebody is expanding and open at depth.

    Sounds good to me... I'm in.

 
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