BSG bolnisi gold nl

+ + bsg or bdg? + +

  1. 22,691 Posts.
    BSG or BDG?

    There was some data previously calculated but BSG is now 52 cents (previously 46.5 cents) and BDG has savagely come down to 85 cents. The price of gold is now $442.2 and $A=0.7693. (1 ounce is $A574.808)

    BSG has 279 mill shares while BDG has 253 mill. BSG has 3.722 mill Equiv ounces and BDG has 11 mill ounces gold. Both are inferred IN SITU resources.

    BSG's market Cap: $A145.08 mill and BDG's: $A$215.05 mill.

    BSG: for $AMCAP one would get 0.02565 ounces while for BDG this is 0.05115 ounces.

    BSG: One ounce of gold Equiv. costs $A38.99 MCAP ( 6.78% of the gold price); while for BDG 1 ounce costs $A19.55 MCAP (3.4% of gold price)

    SUMMARY: These calculations are based on inferred resources so one hopes that these can be converted. BSG only had part of the project measured and I guess, if they had done the whole, the cost per ounce could come down say from $38.99 to say $A25 MCAP. It also has another 3 projects, one of which has been partly drilled.

    BSG has $36.7 mill cash from the option conversion but would start production later than Dec 2005.
    BDG has the cash for the plant and other requirements and production of an initial 80,000 ounces is to start in Dec 2005.

    BSG has 126 mill ounces of Silver sofar in addition to gold. That may be an attraction. BDG's price could be attractive to some Investors.

    To bring the current BDG's MCAP price per ounce from $A19.55 to BSG's $A25 ( See above), then the BDG's price has to rise to $1.08. At that point, BSG would be 3 projects ahead but they will start production later.

    Subject to audit.

    Gerry
    Holds BSG and BDG
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