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Re: Mr.Misanthropex2 f/k/a Mike Butler post# 42210

Tuesday, 04/24/2007 9:09:30 PM

Tuesday, April 24, 2007 9:09:30 PM

Post# of 115222
you're right! your're certainly NOT a math guy, otherwise you could have figured out that 8 billion in assets minus 70%(cost of extraction) is 2.4 billion. so for a company to mine these assets it will cost them 5.6 billion therefore leaving them with only 2.4 billion.. after they purchase the outstanding shares for.. what was it..? 217 million they will have approx 2.2 billion profit left.

that's why the offer is .68 not as much as we would have hoped, but then again we didn't know until today that the cost of extraction was 70% of the total value.