RIS Resources International Corp, RIS-V Message Board

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Gold/Mining/Energy : RIS Resources International Corp, RIS-V

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To: Bob Parker who wrote (231)	8/11/1999 10:52:00 PM
From: Casey	of 250

just a reminder from an earlier post. Now plug in UP @ 1.55++ and see what happens. <<from my figures you are close to a fair valuation on RIS at $2.00. As at March 31, 1999, but applying today's prices to stock holdings: cash: ($US) 5M ($C 7.25M) + stock: 2.5M Pennaco shares @ 11.25 = 28M ($C 40M)+ 150K UBRT shares @ 4.00 = .6M ($C .87M) 11.7M Ultra shares @ 1.15 = $C 13.45M + total = $C 61.57M + 50% of Bird Canyon that generated $688,162 in revenue last year (not sure if it was a full year). There are 35.2M shares outstanding. Most, if not all of the outstanding options and warrants will expire below their excercise prices (they are anti-dilutive up to the $1.75-2.00 range). So ignoring Bird Canyon we have a book value of $C 1.75 per share in stock and cash. Seems very undervalued. And I agree with you that Pennaco and Ultra will only be rising in price, (imo, quite dramatically next winter as gas shortages drive NG prices higher), in the next months and years. Their track record in investment stock picking is impressive. They picked up (i.e. financed) Pennaco for $US 1.25 and ubrt for $US 1.00 and UP for ?. I expect they will add further value with their cash war chest. I'd say RIS is a buy.>>

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