LAT has recieved $7.5mil from the sale of the South American gold asset. $2 million cash from Ian Middlemas and Mark Pearce $1 to $2 million worth of share in Coronet (TSX: CRF) and addition $6 to $7million from Coronet as soon as they meet the JORC target. The abilty to earn extra from royalties. LAT will most likely end up with about $20Mil in cash.
The other Middlemas cash boxes Market Cap's trade at 3 to 5 times the cash position
PSF - $20 to $30Mil with less than $7Mil cash(12month MC high of $65Mil) WCP - $30 to $40Mil with less than $10Mil cash(12month MC high of $60Mil)
Then you look at the sucess of his last 4 ventures CPL, MRU, EQX, IDO etc etc. Middlemas/Pearce are putting in their own money and are going to control more of LAT than most of the other shells he controls (30% without exercising options).
The guy is probably the best deal maker going around so I can't understand why this stock is so cheap? This could be our only chance to get in at the absolute basement of a Middlemas success before it goes for the usual run.
LAT Price at posting:
3.9¢ Sentiment: Buy Disclosure: Held
