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Based on reserves alone, the bid is priced at 1.5 times proven and probable ounces!
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Chinguetti was discovered in 2001, and has proven and probable reserves of about 120 million barrels of oil.
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Goldex had an estimated 1.6 million ounces of proven and probable gold reserves.
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Proven and probable mineable reserves total 2.018 million ounces at an average gold grade of 2.06 grams per ton gold.
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Massey now has a third of Central Appalachia's proven and probable reserves.
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Proven and probable reserves of natural gas rose 2.7% to 22.5 trillion cubic meters, from the 21.9 tcm last year, the company said.
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Furthermore, proven and probable gold reserves have doubled at this project.
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Hellas Gold holds mining licenses for an area covering 317 square kilometers (122 square miles) with proven and probable reserves of lead, zinc, silver, gold and copper.
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Milligan project has proven and probable reserves of about 2.1 billion pounds copper and 6 million ounces gold, and there is a huge likelihood of finding similar reserves in the Serengeti properties.
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Meanwhile, Pan American more than replaced the proven and probable silver and gold reserves mined during the last year through its exploration campaign, said Michael Steinmann, executive vice president for corporate development and geology.
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At the end of last year, it had the largest reserves of all gold miners with 138 million ounces of proven and probable gold reserves, 1 billion ounces of silver reserves, and 6 billion pounds of copper reserves.
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