Isn't there 1.2bill shares on issue? That makes $12mill marketcap right at 1c per share?
So their holdings in YRR is worth around $6.2mill or it could have just as easily closed at 12.5c or maybe round $5.5mill. Of course you couldnt just sell 40mill shares in one hit so usually a discount is applied, let say 10% so around $4.9mill.
So on current shareprice of YRR and whatever else GPN have shareprice is probably about right. You wouldnt expect it to be much more than it is now.
The other concern soon will be YRRs cash position. $1.6mill left in the kitty, around $500K burn a quarter, they will have to be looking at a placement in the next quarter or two. That will dilute GPNs holdings even further. And to think that once GPN had 70% of YRR.
GPN
greater pacific gold limited
