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Gold/Mining/Energy : Sasamat Capital Corp (Formerly Bresea Resources)

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From: mg41805/2/2006 11:15:22 AM
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If anyone hasn't had an opportunity to read the valuation and fairness opinion, I recommend you do so as it's a real "doosy". What's most shocking about the report is that the analyst derived value based on data prior to and available through the first 6 months of 2004 (as if that is even remotely appropriate considering we're in 2006). He further applies this methodology to the peer group analysis, which also represents valuations based on 2004, and in some cases, pre-2004, market cap information. Had the peer group valuation been compiled based on current market cap valuations, in many cases, significant appreciation in value has been realized. It’s unimaginable to me that a valuation and fairness opinion can be given based on such outdated information.
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