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Gold/Mining/Energy : Corner Bay Silver (BAY.T) -- Ignore unavailable to you. Want to Upgrade?

To: charred who wrote (2761)	1/6/2002 9:59:25 AM
From: russwinter	Read Replies (1) \| Respond to of 4409

<GBG: $40 million or ~$40 per ounce.> There are 38.2 m shares trading at 55, that's only US$ 21 million. They have $5 million cash, so enterprise value is US$16 million. That's $16/oz, not $40 and they will find more.. Fully diluted shares are way out of the money: 5.2 million wts at 1.05. If you are going to count as shares, need to add in the cash proceeds. Corporate strategy is sound at this point. I doubt if dilution is going to be an issue as they are currently talking with about three majors regards a JV. I expect a deal to be announced this quarter and they will be largely carried. <GBG I don't believe their numbers> Hunter, Dickinson not credible? Can't agree.