Moydow Mines fka MOY

[amarksp]

Had to go to a Estate & Tax planning seminar..., put in a bid on MOY at US$.91 for 2000 shares, and was filled..., last thing I needed was more MOY..., now about 14% of my trading portfolio..., and I have a bit in my IRA...

At NEM = $36.75, MOY distribution alone is worth US$.82

Re-reading press release, MOY anticipates C$9 million in cash after paying transaction costs and legal, this equals US$.24 per share. Still need to add in the US$.20 guesstimate for the 2% NSR, thus FMV of MOY should be US$.44 or C$.61 post distribution... (giving no value to other mining assets).

"Following the distribution to its shareholders, the Company will have working capital of approximately Cdn$9 million after payment of taxes and costs in connection with the transaction."

MOY still getting no respect as an arbitrage play, likely because it is so thinly traded... Will add more if MOY share price is less than NEM distribution plus $.05 (i.e. US$.87), at least that is my current thoughts...