Tam What's it worth, page-4

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pesa

937 Posts.

157

12/03/21

10:50

Post #: 51713991
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Originally posted by pesa: ↑

This is a question, not a statement.

From last quarterly report.

Estimated reserves - Ounces
Measured : 610,000
Indicated : 1,001,000
===================
.... 1,611,000
Inferred : 1,133,000
-------------------------------
Total ... 2,744,000
==================

Let's assume say that the measured and indicated are about right, and say 1/3 of the inferred is reasonably reliable
That gives a resource of about, say, 2,000.000 ounces.
At current gold price of about $2,234, let;s say $2,000 will be achievable.

Value of reserves, say 2,000 x 2,000,000 = $4,000,000,000., $4 billion say.
Tam share is 60% free carried. ie. $2.4 billion.

About 1.25 billion shares in the company

So, 2,4 divided by 1,25 = 1.92

ie. by this calculation, a share is wirth about $1.90 from a realisation of the resource, probably conservatively, if it all works out in the end..
Of course allowances for risk of all kinds of unforeseen possible problems.
Factor in about 50% because of a long time scale and possible risks, say then about $1.
That's over 10 times the current value.

What are opinions on this?
Given the large upside using ths kind of calculation rating TAM as worth holding out for $1/share.
What is the error, if any, and why only $0.08 sp?

WIll be pleased to hear why this is wrong or a reasonable guess..

Expand

Just read the half yearly. I hadn't realised the end result of the CTP agreement leaves TAM with 25%, not 60% as I had thought, sorry about that.
So, adjusting the figures I put forward by 25/60 , say 40% gives a possible value of say 40% of $1.92, $0.76, then allowance for negative surprises, say around $0.40. Still worth hanging in there.

TAM Price at posting: 8.2¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 3.1¢		Change 0.000(0.00%)		Mkt cap ! $36.42M

Open	High	Low	Value	Volume
3.2¢	3.2¢	3.1¢	$9.62K	310K

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No.	Vol.	Price($)
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Price($)	Vol.	No.
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No.	Vol.	Price($)
1	35736	0.031
2	272303	0.030
1	200000	0.029
1	100000	0.028
1	75000	0.027

Price($)	Vol.	No.
0.032	337703	2
0.033	100000	1
0.034	1000549	2
0.036	223033	2
0.038	110000	2

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