You might want to have another (cheap) shot. Their MC is $8M as of today not $4M, after drilling they will have what? No cash and a small bunch of maybe ok results.....what next for them? Raise another $3M million with 50%+ dilution to existing holders? Another small bunch of drills by Xmas or Easter next year. Rinse and repeat. Thumbs up!
So much for that 25x enterprise value thingy......
Ann: Extension of Voluntary Suspension, page-105
-
- There are more pages in this discussion • 106 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)