Gold Resource Corp (GORO)

[BusProfHarvardU]

$1 PPS for Fortitude? No way.

Here's a company expected to have a minimum of $72,000,000 in annual revenues ($1,800 x 40,000 gold oz's) and only 21,000,000 shares outstanding.

What company on planet earth has a market cap of .30 of their annual sales?

GORO's price/sales 1.5, which means 5x x 1.00 = $5.00 PPS by comparison.

We don't know how dilutive this transaction will be, but hopefully they'll not have more than 30MM shares outstanding when it's all said and done.

I'm estimating $3.50 - $4.50 PPS.

Stay tuned.