There have been so many disappointments its difficult to remain optimistic.
Last year at this time the stock was about 2.50. Today it closed at 1.25.Last year we had 11,000,000 share and now 40,000,000.Last year we had 100% this year 60%.
A rough estimate based on the last news release would indicate about 10,000,000 0z. i.e.4,000,000 for Canuc.Using $50 an oz that's 200,000,000 divided by 40,000,000 shares....$5. That is if the resource does prove out at that amount.
The annual report indicates a further $7-$9 million will be needed in the next 12 months. Further dilution. Please tell me where I'm wrong. Is there a likelihood for more au or are we all hoping to get to where we were last August?
I personally think that the visit to Ecuador had something to do with Northfields.Placer is on the far side of the NFM property and perhaps Placer would come in to a 3 way deal.But I don't know enough to even guess what a deal might be. Do you? However I do think there is something that is going to happen. Maybe the fresh money referred to in the report has something to with it. What do you think |
