been hearing many say they flogged fmj today & bought more gmm.
well I didnt sell fmj but still bought more gmm.
decided not to work over 12 hours today & do some proper research. :) It's been a long while since I have done any decent research.
63m on issue @ 22.5c = 14m cap undiluted - 4m cash = 10m ev
+
12.7m unlisted options all have ex price of 20c, so at current price, the dilutionary effect of unlisted options is pretty much offset by the cash conversion it brings in when calculating ev.
10m EV for these are cheap imo:
1. Potash. a lot of debate, I am no geo & I wont pretend to be one. they have engaged the same pros used by stb & fmj. am happy to let them do their work.
coming news: deep drill holes in filed season starting Apr
2. Lithium. Strategic Alliance for lithium with Galaxy Resources in Mongolia and Kazakhstan
?
GMM 20% free carried in any lithium project it introduces to the Alliance to completion of BFS
coming news: pg 13 of presentation "talks with vendors in Mongolia and Kazakhstan on gold, copper, coal and other projects"
CEO reached 33m cap (5.3c) on mention of looking for coal in Mongolia
BDI reached 20m cap (4c) also on a mention
note neither has anything in concrete.
3. IO+Mn-Shoemaker. neighbour ZNC's vertical rise from seventeen cents to seventy cents made a few happy shareholders. our turn?
coming news: 30 holes & ~2,500 line m RC drilling program to start in mid May 2011
mmm 10m ev? I dont know how cheap but I know she is cheap
perhaps we should all email management to ask them to target coal acquisition in Mongolia as Robin Bromby made it perfectly clear " EVERY one seems to want a piece of the Mongolian coal action these days"
http://www.theaustralian.com.au/business/mining-energy/mongolia-in-the-spotlight/story-e6frg9ex-1226026161948
erich any chart, are we still going back to 20c?
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