Its going to be very interesting next week as VRE should come out with some news regarding its finances.
In the meantime if we look at the Mcap and share price this company has been punished to the extend that it has become very cheap indeed. For those who believe that VRE will do well after having its additional finances here are some figures.
Mcap about $100 million share price $0.25
Looking at Carnilya hill
VRE NI about 6000 t in reserves and growing @ $10 000 /t equals $60 million value inground
Looking at Bronzewing Gold resources 800.000 oz and growing Gold reserves 600.000 oz and growing this leaves us $40 million over for the gold reserves or $66 per oz
Plant replacement value is $100 million plus
exploration upside value......
ect ect
I think VRE will be rising quickly once the market realises that all will be fine
Time will tell but in this ever rising gold price environment VRE could not have picked a better time to get Bronzewing in production.
And re/financing will not be an issue imho.
jojo
VRE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
