Considering a dabble.
Fully diluted has a market cap of about $16M with $4M in the bank, and $3.6M net cash from exercised options assuming a full conversion.
$8M EV.
Let's have a look at the resource they may have...
* 100m^2 anomaly
* average interval 20m
* groundmass density of 2.7t/m^3
Volume of anomaly is about 0.2m^3. Mass of anomaly about 0.54Mt.
A grade of about 2g/t looks reasonable.
That gives you a resource of about 36,000oz.
Nothing earth shattering, but for an EV of $8M it could go alright. 30cents maybe if the market gets behind it?
Will keep an eye on it over the next day or so.
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- good entry point coming up
Considering a dabble.Fully diluted has a market cap of about...
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