Thursday, January 31, 2013

Guyana Goldfields files positive technical report for Aurora - or does it?


Here's the headline: Guyana Goldfields files positive technical report for Aurora.

Here's the key sentence:

The report had found the project to hold an estimated after-tax-and-royalties net present value of $800-million at a 5% discount when using a gold price of $1 300/oz. 

Here's the chart:


Shareholders don't get a lot of bang with this report, do they? BMO certainly gets more with their $100M financing.

"Mining the market, not ore" indeed.

Tell me again, why should people want to own junior miner stocks?

1 comment:

  1. The junior market seems to be pricing in a China crash that so far hasn't materialized. Is it about to?

    ReplyDelete

Don't bother commenting unless you have some useful information or valuable commentary to provide.

If you're a fucking tool, please go to Yahoo News for all your commenting needs.