Looks like a lot of you guys havent done your research.If MYG...

Looks like a lot of you guys havent done your research.

If MYG were to become a ten bagger it would have a market cap of 420 M$ on a fully diluted basis ( on exercise of all options we'll have a fully diluted share base of 590 m shares ).

That's preposterous as MYG will have to raise capital in both equity and debt along the way to production and as such will have to dilute further.

Let's assume MYG sell 50koz/annum at a generous 800$/oz profit we're talking about 40M$ EBIT. Deduct the interest and payback for he 50 M$ loan and the profit margin will be closer to 20- 25 M$.

Now use a P/E of 5-7 as Deflector is a riskier project due to its past failures and you end up with a fully diluted market cap of 100- 125 M$ whih equals 14-15c / share.

So MYG is a double bagger at best but will never reach anything close to your predictions.

The market is never wrong and that's why MYG is trading at these prices. There's already been too much dilution and there will be more dilution prior to project construction.

This could erase significant upside potential as we're talking about tough times, even when talking about robust projects.

Cheers