Press Release, Mountain Energy owns and controls the mineral rights in West Virginia that
contain approximately 1.98 billion cubic feet of gas and 10,000,000 tons of
coal, as well as other properties that all combined, have an estimated fair
market value in excess of $200,000,000 with approximately 70,000,000
shares outstanding after the acquisition. This translates to approximately
$2.85 per share.
jhild says, They have taken the estimates of possible reserves the 10M tons and the 2B cubic
feet and they have turned that into a $200M value. What they haven't said is how
much it will cost to get that value out of the ground and to market. If that estimate
gets paired down to 0 by extraction and transportation costs, then that's its net
value to shareholders - $0.00/share. All they have said in that paragraph is -
nothing that they can ever be held accountable for.
You might just have a point there jhild. But you've overlooked one thing. Papillion!!
There was a little noticed pr a few months back that indicated the world's governments have decided to band together, with Microsoft's, er.. the US Govnmt's approval, and send all their hardened criminals, (not to be confused with that band of robbers that hijacked the truckload of Viagra up in Jersey City last week,) to a mountain prison camp in West Virginia.
Now here's where it get's a little dicey. Ya see JChristensen's third cousin, on his father's side has a dog that was bred by a family member of one of the founders of Campbell's soup. His name is Billy Fartout, the family member, not the dog, later changed to Forthright. Well it seems that, and oh yes we believe he is a fourth cousin to you know who, Billy is connected to Corecraft, the governing agency of all the Micros... US prisons. A deal was done and believe this if you will but 'ol Jack U is gonna get paid by Micr... er, the US Govmn't $22 per ton that the prisoners remove from those hills because he's rehabilatin 'em. Then MTEI gets to sell the coal on the open market for almost a 200% valuation.
So you see the PR estimates are extremly conservative in-as-much Jack U has not divulged the Mic... er, the US Govnm't connection.
Things are really a lot better than they appear. You had better dig a little deeper if you want to play in this sandbox jhild. |
