Why did I not look at Michael West till now?
Ever trusty.
And how's this for a bull market valuation? That old tip of ours from too long ago, Admiralty Resources, has finally taken off. The lads have been looking to raise $50 million for their Argentine Altiplano industrial minerals play. They must love a laugh because their independent experts' report has valued the Salar Del Rincon asset at $1.32 to $2.44 a share versus the stock price of 7.9c. How did they get to this lofty valuation altiplano? They calculated an NPV then multiplied it by an earnings multiple. Must have used a discount rate of zero.
It's all happening, so hit the limit on the credit card, sell the old stamp album, gear up on the margin account and mortgage the dog. But don't play with money you can't afford to lose.
Why did I not look at Michael West till now?Ever trusty.And...
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