Alan, good questions...:)
Based on 10QSB sec.gov
there were 87,853,654 share outstanding.
I was wrong when I wrote Based on 10QSB on Nov 25, 1997 company has 87,853,654 issued share which is 44,517,143 outstanding.
It should be 87,853,654 shares on September 30, 1997 and 44,517,143 shares on December 1996 as company outstanding shares.....:)
Your next concern about authorized shares. FYI, authorized here means company has allowed to issue new shares. It should not affect stock price because it's not issued yet....:)
But, it's okay if we play a new scenario here....:)
Let's assume the company issued all of authorized shares. Based on my last equation, so MINE share value is
[60,000,000 x ($310,3 - $170)] / 800,000,000 = $10.52....:)
What does it mean? For me, it means MINE current price at $0.125 is cheap...:)
Don't forget, we didn't discuss what the new shares for....:)
If the company use it for opening the new mining area or buy other mining company after succeed with the current location, MINE share value should be added....:)
Alan, I have one good example about gold company which has huge amount of outstanding shares. It is ABX. It has 373 million shares outstanding. ABX has 51 millions oz gold reserves biz.yahoo.com with $193/oz as it cost barrick.com
How about its current price? $22 1/2 !!!...:)
BTW, Alan, would you posted IKAR financial statement on this thread? It will help making this thread more value. Or at least, may I have IKAR website address? So, I can surf it and do my DD.
Want to check gold current price? Just click
gold-eagle.com
Good luck.
MM |
