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I am neither sad nor bitter. My point is that this company has had a long history of coming up short on promises. Several big brokerage firms got stung as a result. They have essentially blackballed the stock. Buying is, therefore, being driven by small retail players. As well, they have 250,000 proven ounces (give or take) and about $4,000,000 in cash, after subtracting debt. With roughly 50,000,000 shares out there, the company is not worth more than 50 cents, unless they can take probable reserves up into the proven category at either the Golden Bear or in Costa Rica. My guess is that they will add at least another 250,000 to the proven category in the next twelve months, bringing the valuation up to maybe 85 cents IMHO. By the way, I am personally not anti WRM, and do apologize for being so grumpy on my last post. Regards. |
