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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: loantech who wrote (12270)4/20/2004 4:32:30 PM
From: russwinter  Read Replies (1) of 110194
 
<CLG>

I'm showing US$72m mkt cap, with US$36m cash on hand= $36m enterprise value/ 3.8 million oz: mostly measured and indicated(probably conservative old figure?), and that's roughly nine and half bucks an oz, 2001-like figure when POG was below $300. Remarkable, I'll have to admit to being totally shocked by this kind of capitulation, and I don't shock easily. I guess I'd have to ask mgt. who the hell they put into the stock, except it might not be fair considering volume has been slow drip. Just not making a market in it, and no buyers. Do you think they find a major to sell to?

I now have RNO at about 2.6 times cash flow at $5.50 Ni.
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