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You need to brush up on your arithmetic, if you think WRM will hit $3.00 without additional deposits. They have, at most, 500,000 ounces of gold at a profit of $100US per ounce based upon a gold price of $350/ounce. That gives $50,000,000US gross profit minus $10,000,000 in loans and startup costs, netting $40,000,000US, or about $54,000,000CND. With roughly 50,000,000 shares outstanding, my arithmetic comes up with an asset value of $1.08. Having said this, maybe the WRM curse will finally run out soon, and a good set of drill cores will surface this year. By the way, they are not out of the woods, by any means, in solving their native problem. Don't forget, I was the guy who called the chief several months ago. |
