The AMEC report in 2006 said that Birch Mountain had 1Billion tons of high quality reserves, a 70 year mine life, and 10M tons per year capacity and additional reserves!
Brookfield is saying the same thing.
xBrookfield Asset Management's new brochure:
1 Billion tons of high-quality reserves
50 Year mine life
10M tons per year
In Brookfiled's own words they describe the asset:
"HAMMERSTONE CORPORATION - Mining company and producer of high-quality limestone in the heart of the Canadian oil sands region. Principal supplier of construction aggregates in an industrial region with significant current and future demand, increasingly limited competition and high barriers to entry. Over one billion tons of reserves and more than a 50-year remaining mine life, with additional mineral rights covering 700,000 acres adjacent to the mining operations. (Empahsis added)
Source: Brookfield Special Situations Group Brochure: http://www.brookfield.com/_Global/1/documents/relatedlinks/2975.pdf
What’s a billion tons of high quality limestone reserves worth today?
$2 Billion (NPV)?
What’s the Future Value of a 50+ year quarry?
What was the last known Birch Mountain share count reported (before dilution)?
Answer: 84,180,737* as of December 31, 2007.
What was the “acquisition” price?
What would the share price be worth today?
*Excerpt from page 49 of Birch Mountain Resources Annual Report filed April 3, 2008:
ITEM 7: As of March 1, 2008, Birch had 134 registered shareholders of which 76 holders had an address of record within the US owning common shares, representing 15.8% of Birch’s outstanding common shares. As of December 31, 2007 Birch Mountain reported 84,180,737 common shares outstanding.
To the knowledge of Birch, as of March 1, 2008, there are no persons or entities who beneficially hold, directly or indirectly or exercise control or direction over, more than 5% of the voting rights attached to the issued and outstanding common shares of Birch.
Source: U.S. SEC Filing 20F of April 2, 2008, Birch Mountain Annual Report Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934.
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