Too cheap, page-6

Maybe it depends on how you are valuing ORE at the moment. If we forget that they went to $3 bucks or so just before the CR was announced, and value them at the CR price, then before the raising they were worth $321 million. Now with 20 million extra shares the mkt is still valuing them at $332 M mc at $2.17....and the q then is, what value did the new shares provide....they bought basically working capital ie to remain a going concern until production money starts bringing us into the black, so they didn't improve our growth opportunity. One could argue that all the mkt has done is built in the dilution but kept the absolute worth of the company the same....