More Assets Goldstone’s - Balance Sheet
In addition to:
a) Hardrock Gold Deposit*
b) Brookbank Gold Deposit**
c) Key Lake
d) Leitch/Sand River
e) Northern Empire
f) Deloro –Timmins area
g) Bartec – Val D’Or
OTHER ASSETS:
- Marketable Securities : Premier Gold Mines Ltd. 400,000 shares @ $5.77 = $2,308,000
- Buildings, Equipment and Mill: $2,900,000
- Deferred Exploration Expenditures (Tax Loss ): $ 18,500,000 (allow 40%) = $7,400,000
- Cash: $6,000,000
Total: $ 18,608,000 or $ 0.177 perGRCshare – say $0.18 per share
The Proposed Offer: 0.16(X) premier shares +$0.0001 in cash for each “GRC” share.
Premierat $5.77 x .16(X)= “GRC”@ $ 0.92 - $0.18 (other assets above) = $0.74 per share value;
That’s $77,700,000 deemed valuefor Hardrock, Brookbank et al!
($0.74 per share value x 105,000,000 “GRC” issuedshares)
CHEAP! --- For the birds -Cheep! Cheep!
*Note: April 2011 independent research valuations on the Hardrock Gold Deposit indicated $173 million to $216 million for GRC’s 30% carried interest.
The “arrangement” is subject to among other things, the favourable vote of 66-2/3rds % of the votes cast by Goldstone shareholders.
** Brookbank Gold Deposit – 35 kilometer strike length – Underdeveloped
2009 NI 43-101: 698,200 oz. Au (Indicated & Inferred – 2g/t cut off)
- Indicated: 1.5 million tonnes@8.0g/t containing 390,800 oz Au
- Inferred: 1.8 million tonnes @ 5.3 g/t containing 307,400 oz Au
- Total : 3.3 million tonnes @ 6.5 g/t containing 698,200 oz Au
GOLD: $1526.30 + $10.00
