On current inferred resource of 54 mt... The UMC deal was done at $1.29 a tonne. Therefore our deposit is worth $70m. Or double our current market cap."
I saw this and wondered if the bolded part was true, so I did my own calculations.
Firstly PLVs market cap is around $49 million including the 30c options that are obviously in the money (78 million shares and 25 million options).
Secondly the market knows PLV are looking to raise $20 million. If we assume they raise $20 million at 44c that's an additional 45 million shares.
They closed on friday at 47c, funnily enough at 47c the fully diluted market cap post the capital raising would be...
*drum roll*
$70 million.
Obviously any broad comparison like this ignores ore quality, transport issues, exploration upside etc.
PLV Price at posting:
42.3¢ Sentiment: Hold Disclosure: Not Held