Moydow Mines fka MOY

[amarksp]

One last look at MOY:

Assuming NEM @ 32.97:
1) Total distribution to MOY = US$.979
This equals Can$1.375 and what MOY should be trading for at a minimum, pre-distribution...

2) Would assume MOY would distribute 66% minimum to shareholders or about Can$.90

3) Thus, MOY would retain Can$.475 cash per share (C$1.375-C$.90).

4) Assuming MOY has cash expenses this quarter of C$250K, that would leave $638K cash on MOY balance sheet as of 6/30/03 or about Can$.025 per share.

5) Accordingly, MOY cash value alone would equal Can$.50 per share post distribution. No value assigned to NEM royalty stream or to MOY's other properties. Thus, would appear that MOY stock price should be supported at C$.50 per share post distribution (i.e. cash in bank per share only).

6) MOY's remaining mine assets total C$1.7M book value or C$.06 per share per 12/31 balance sheet, not much...

7) The NEM royalty would be a more significant asset per my recollection, anyone have the likely cash flow figures for this NEM royalty...? Seems like I recollect someone mentioning Can$7 million total?, or about Can$.26 per share. Please advise...