JUST FOUND OUT- A $6 MILLION COAL DEAL!
But not for the ICVI pump and dump!
archcoal.com
And from the ACI 10 Q- those 12,000 acres contained:
"In November 1997, the Company acquired approximately 23 million tons of low-sulfur coal reserves adjacent to the Hobet 21 Complex for $6 million."
Now let me get this straight- ICVI has 70 million outstanding
and only have 1300 acres with 10 million tons- worth less than
a $2 million by these ACI standards, and just gave away X amount of shares to buy 8000 acres that could have nothing but deer droppings on it...
The BEST CASE scenario is the current value of .02/share plus whatever they gave away for the deer droppings- ICVI is worth at best .03
a share on the mineral rights and raw land. Of course if I was ICVI
management I'd be dumping all my stock now and get out while the gettings good, rather than spend years trying to build a mine, buy equipment, permits, etc.- it could be 10 years before you would ever build up a book value anywhere near the .85/share X 70 million outstanding= approx. $60 million market cap- and judging from the stock activity the past few days- management and the "rocketeers" who helped pump the scam are heading for the exits in droves, while planting "newbie" drones to chat about the falling stock and blame naysayers and market makers...
And who are all these "Rocketeers" and "newbies" who join SI at the
same time to talk about 1 or 2 stocks ONLY- with everybody's modas operandai sounding stangely familiar- "hi I'm a newbie, and this is my first post, and I'm a Rocketeer- I like to golf to forget about watching stocks, remember scenes from old movies, and will hold "long and strong" with "macker" and "Rocketman" "- this looks like a well organized pump and dump, and probably the biggest scam ever to hit S.I...
|
