Westcott, its the fact that sundance is overvalued even at its current price.
You can do further research but i warn you..the truth will be scary. There are several mining companies with bigger and better resources next door to sundance and they are not even worth close to $100 million. Two examples are Core Mining's Avima project and the Zanaga Iron Ore.
Xstrata, Glencore, Severstal (biggest russian iron ore producer) and other majors are already in partnership with iron mining companies in Congo but not with Sundance. Why is that?
Its all the hype,extravagant and intensive publicity promotion thats valuing Sundance at $300 million today.
I think you are already in too deep with this stock, trying to justify with multiply posting with a "what if" calculation, but you must remember that Sundance's resources underneath worth not more than a dirt now until they can get investors to inject $4.2 billion.
and who do you think will be willing to spend that money?
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