John,
The company has almost 40 mm shares out right now. In exchange for GHMC they will give another 20 mm plus 20mm for bolivar. The rights offering is 11 mm if fully exercised. To put the property into production will take at least $15-20 million, even at $1 per share that's still 15 mm more shares. 106 mm shares. Assets: 500,000 onces plus 50 mm lbs copper; gold = $100 * 500,000 *50%(cuban interest)= $25,000,000. Cu at $1.25 per pound not including extraction costs is 62,500,000 * 50% = 31,250,000 Total assets about $60 mm or after all of the deals 60 cents per share max. There are too many other companies with much more upside potential, and the price of gold is not helping either.
Rob
I hold no shares in MMP.A, sold at a loss. |
