Maiden MRE guesstimates, page-39

A class performance shares are lenient, i wasn't invested in this company when the rights were issued, B, C and D are relatively reasonable.

Regarding SP, it is 100% overdone


Accounting for Class A dilution (Not B since market does not expect us to hit 1moz apparently)

The market expectations for the MRE is 551,558 ounces at current price.



If we hit 1.2m oz, accounting for Class B dilution, SP based on expectations today should be 0.235.

Regarding "Does the smart money know something retail investors do not?" look at broker reports. Sale volume is dominated by retail.