amazing, page-26

V8. Rocket fuel to the CBS fire is that the market noticed that it has about $7m in cash when it had a $4m market cap!

CBS:

Diluted Market cap = (259m shares + 0 options) x 0.039 = $10m

Cash $7m.

EV = $3m


Nemex:

Diluted Market cap = (75m shares & options) x 0.08 = $6m

Cash = $1.3m

EV = $4.7


BOTH are cheap. NXR has the JORC resource and sizeable exploration target. CBS has the high grades and apparent low contaminants.


Basically, you can't go wrong in investing in a spec where 70% of it's current market cap is cover by cash.

Anyway. I like both. But you can understand why the market it beginning to rerate CBS.

Thx