| | November 15, 2921: New Found Announces Acquisition of Royalty Interests Underlying its Keats-Golden Joint-Lotto Discoveries
NFGC at $5.95 with the market cap at 939.85M
Did the math...
They bought back .6% of a 1% royalty interest... that covers a property package that includes Keats, Lotto, Golden Joint... for an aggregate cash consideration of $3,900,000 and aggregate share consideration of 458,823 Common Shares.
The shares are worth $2,729,997 + the $3,900,000 in cash is $6,630,000... for 0.6%
Divide that 0.6% by six and multiply it by a thousand... and it puts a price on the Keats, Golden Joint, Lotto portion of the property... a price that NFGC is apparently willing to pay to own that extra 0.6%...
Which is... $1.105 billion... more than the market cap... just for that one corner of the land package ?
Hmmm. |
|
