Super fast ballpark calc
So WRM gets $13.5M in cash payments if things proceed as planned and will still hold 30% of Mt. Carrington.
Currently $40.7M market cap, $15.7M cash on hand, $13.5M payments coming (ignoring time before payments arrive and some risk).
$11.5M left as ballpark value for Last Chance and Red Mountain. Either should easily exceed that, especially where I think Last Chance is headed.
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- Ann: Term Sheet Signed to Progress Mt Carrington Gold & Silver
Ann: Term Sheet Signed to Progress Mt Carrington Gold & Silver, page-6
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