ZZZAAAZZZ,
You are correct. I am having a trouble adding up their forecast production plan and the resources.
The February Presentation is a bit dodgy.
* Svartliden *
Page 07 - Gold Produced to-date (Dec-09) is 210K oz
Page 28 - 40K oz per year until 2014 = 200K oz
Page 32 - Official Resource Inventory 155K oz
They are planning to mine Gold they don't have :p LoL
I'm sure there is an answer somewhere. They seem confident that the drilling is still way open and so their "Modeling" may suggest plenty more of the goods under ground.
* VAMMALA *
Page 07 - Gold Produced to-date (Dec-09) is 70K oz
Page 28 - 50K oz per year until 2014 = 250K oz
Page 32 - Official Resource Inventory 578K oz
So long as gold stays above $1000 VAMMALA has an NPV of around US$40M (or 6c per share) if mined until 2014. But they still have Resource beyond 2014 at a 50K rate.
6c is a sweet spot - Would like to have bought stock around there.
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