Hi SD
ECH was fundementally undervaued @ the IPO to get it away a few weeks ago.
If you followed the old Leyshon Resources LRL (pre China) formally Normandy Mt. Leyshon (produced 3M oz AU) the calcs go like this:
LRL (NLY) @ 20c x 89M shares = $17.8M
less cash $ 8.0M
Enterprise Value $11.8M
Those assets have not changed,
Now ECH EV $11.8M
Cash $3.8M
Total $15.6M
divide by 20.4M shares
ECH 76c !!
or look at it in reverse.. if ECH is 25c then LRL would be
only 10.4c !!
Thats why I bought 75K thru the IPO and in the que @ 24c.
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Hi SDECH was fundementally undervaued @ the IPO to get it away a...
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