The update report was like a bombshell. There were ten compelling reason to buy CRK in it. 1.1 million of the 5 million ounces are already in the Measured or Indicated categories. Now they have to be worth $330 million, I would have thought. (That's $2.70 a share). What's the other four million worth? How about $75 an ounce? That's conservative. That's another $300 million. (That's a total of $5.16 a share total). Now how about the potential of perhaps another 5 million ounces. Let's say only 1.5 million more are found and value those at $75 an ounce. That's another $112 million. There's $16+million in cash and assets plus Condor. Let's say another $25 million. The shares have to be worth $6.29 right now (cap of $767,380,000). Cut that figure in half to be ultra conservative and they have to be worth a bargain $3.15. And what are they selling for? $1.55 currently!
Well congratulations to all those who have realised the worth of CRK and are buying shares at $1.55! It's a bit like buying gold at $250 an ounce.
And just imagine if we end up at, let's say, 6.5 million ounces in the Measured and Indicated categories. The whole show would sell for 2 billion to an eager major.
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