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Edgewater Exploration Ltd. is a gold focused exploration and development company. Edgewater is well funded and is proceeding with exploration of the Enchi Gold project in Ghana and the Corcoesto Gold project in Spain. [Source: "Edgewater Announces Additional $5.2 Million Private Placement", September 29, 2010 News Release]
The Edgewater Exploration Ltd. website is at www.edgewaterx.com.
Information Links: Yahoo News and Quotes | Yahoo Message Board | StockCharts | Canadian Insider Trading
A September 2010 company presentation shows Red Back is 5% equity owner in Edgewater, institutional investors hold 22% and management & insiders hold 34%. A June 16, 2011 early warning filing at Sedar shows that Kinross gold holds a 12.7% stake.
The Edgewater valuation blog is updated daily with closing market prices.
This report is based on NI 43-101 resource and reserve disclosures and fully diluted share counts available on 2011-08-08.
The GoldMinerPulse metrics, presented below in table format, are based on all projects and all in situ metals and are updated daily with closing market prices.
| General Metric | Value on 2013-05-24 |
|---|---|
| In Situ Metal Value per Share (MVpSh) | US$21.60 |
| Average Ore Value per Tonne | US$78.13 |
| Metal Value Leverage (MVL) | -no stock price- |
| Market Capitalization as a Percentage of Metal Value | - price unavailable |
| Recent Closing Stock Price | C$ [note 1] |
| Fully Diluted Share Count | 94.23 M [note 2] |
| Percentage In Situ Proven + Probable Reserve | 0% |
| Percentage In Situ Measured + Indicated Resource | 22% |
| Percentage In Situ Inferred Resource | 78% |
| Metric | Value on 2013-05-24 |
|---|---|
| Gold Reserves + Resources | 1.47 M oz |
| Average Gold Ore Grade | 1.8 g/t |
| Market Capitalization per oz of Gold In Situ | US$0.00 ( C$0.00 ) |
| Gold Equivalent Ounces Estimate | 1.47 M oz |
| Market Capitalization per oz of Gold Equivalent | US$0.00 ( C$0.00 ) |
Note 1: Conversion rate used: 1 Cnd$ = 0.968962 US$
Note 2: Fully diluted share count taken from Share Structure webpage (viewed August, 2011) plus the August, 2011 option grants.
All metal counts in this section are based on the combined Proven + Probable reserves plus the Measured + Indicated and Inferred resources.
| Metric / Metal | Gold | ||
|---|---|---|---|
| Total Counts (reserves + resources) | 1.47 M oz | ||
| Metal Prices in US$ (from 2013-05-24) | $1,384.20 / oz | ||
| Metal Value per Share (MVpSh) Shown in US$. Based on fully diluted share count | $21.60 | ||
| Percentage of Total Metal Value | 100.00% | ||
| Metal Value Percentage Proven + Probable | 0% | ||
| Metal Value Percentage Measured + Indicated | 22% | ||
| Metal Value Percentage Inferred | 78% | ||
The above metal value totals derive from the following projects.
| Project | Location | Metal Value per share (% total) | Average Ore Value US$/t | Gold | PP% | MI% | I% |
|---|---|---|---|---|---|---|---|
| Corcoesto Gold | La Coruna, Spain | $21.60 ( 100.0% ) | US$78.13 | 1.47 M oz | 0 | 22% | 78% |
| Troy | Ontario, Canada | $0.00 ( 0.0% ) | 0 | 0 | 0 | ||
| Enchi Gold | Southwestern Region, Ghana | $0.00 ( 0.0% ) | 0 | 0 | 0 | ||
| Malpica-Tuy Gold | Southwestern, Spain | $0.00 ( 0.0% ) | 0 | 0 | 0 |
PP%: percentage of metal value from Proven + Probable reserves
MI%: percentage of metal value from Measured + Indicated resources
I%: percentage of metal value from Inferred resources
Note: percentages may no add to 100% due to rounding errors
The Corcoesto project is a late-stage exploration gold project located in the extreme northwest corner of Spain, with in the La Coruna Province. The property includes 3 exploration concessions covering 773.6 ha of surface area and were previously owned by indirectly by Lundin Mining Corporation. [Source: NI43-101 Report dated September 2010]
Latest NI43-101 Report: Technical Report for the Corcoesto Gold Deposit
Galicia, Spain
2011-07-15 (117 pages).
Updates: Edgewater Increases Inferred Resources by 30% at the Corcoesto Gold Project, Spain, May 31, 2011.
Project Location: La Coruna, Spain. View the Corcoesto deposit on a Google Map.
Average Ore Value (all estimate types): US$78.13
Measured + Indicated
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $4.75 | 323.51 K oz | 1.740 g/t | 5.78 M t |
Estimate notes: See Table 1-1 Summary of Resources by Deposit on p. 15 of 117 in the technical report dated July 2011.
Cut off was 0.65 g/t Au
Inferred
| Metal | MVpSh | Contained Metal Quantity | Ore Grade | Ore Quantity |
|---|---|---|---|---|
| Gold | $16.84 | 1.15 M oz | 1.760 g/t | 20.27 M t |
Estimate notes:
Cutoff was 0.65 and 2.0 g/t gold.
The Enchi Project (the Project) is located in south-western Ghana, in a region well known for prolific gold production, and hosts numerous historical and current operating mines located along strike to the northeast of the Project. [Source: NI43-101 Report dated June 2010]
Latest NI43-101 Report: Technical Report on the Enchi Gold Project, Ghana
2010-06-15 (63 pages).
Project Location: Southwestern Region, Ghana.
Edgewater has the right to purchase all of the outstanding shares of the Rio Narcea Gold Mines S.L, a wholly-owned Spanish subsidiary of Lundin. Rio Narcea owns a 100% interest in the Malpica-Tuy Gold project including the Corcoesto Gold Deposit as well as 7 gold and gold-copper projects totalling 50,013 ha in south-west Spain. [Source: June 2010 MD&A filing]
Latest NI43-101 Report:
( pages).
Project Location: Southwestern, Spain.
Edgewater is purchasing an interest in this property from Thunderhill Explorations Ltd. No exploration has been completed on the property. [Source: June 2010 MD&A filing]
The Troy Property is located 65 km southwest of Chapleau, Ontario and consists of some 1653 hectares located in the easternmost portion of the Batchawana Greenstone Belt. The Batchawana Greenstone Belt occurs in the Abitibi Sub-Province, a region which hosts the major gold deposits located at Kirkland Lake, Timmins and Val d'Or. The property is accessible from Chapleau by a combination of logging and paved roads. [Source: Troon Ventures Press Release, February 19, 2009]
Latest NI43-101 Report:
( pages).
Project Location: Ontario, Canada.