A lot of hype about the MD but didn't he vend in a few tenements for his 40m + shares at 25c ipo? $10m worth seems quite hefty and the share price went from 25c to 3c prior to the acquisition in Brazil. I also read that he kept alluvial rights to the tenements. Ex director also left just before escrow release then sold out. Might not mean much if Brazil works out but not a sure thing. $20m ev seems about right until work starts. Could go higher on speculation.
Maybe long termers can comment.
Ann: Investor Presentation, page-46
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