If your wall street friend told you $20 to $30 would be his target PPS if a JV is announced with Vale, then your wall street friend doesn't have any idea what hes talking about and you need to stop talking to him as hes full of BS.
There is no way a JV with anyone, ANYONE would make us suddenly worth $30 or $40 a share. That is quite laughable. Specially with a 641 million OS. Do you have any idea what our market cap would be at that point? Here let me help you out some.
With our current O/S and assuming it would not go up anymore, KATX would have a market cap of over 19 billion at $30 a share. There is no way Rusty Ridge or any of our other properties would be worth anywhere near 19 billion alone. And keep in mind that what ever they are worth, when we do sign a JV, we will have to split the profits from the mine it self, so that means for your friend to be correct on his price target from simply signing a JV with Vale, that JV would have to be worth over 40 billion! Not going to happen.
Let's try to keep this realistic ok? I think that if Handcamp has very high levels of gold, which I expect, that could make us worth around $2 a share, maybe a bit more if it's got a very big reserve. If we sign a JV with Vale for Rusty Ridge or Lucky, and it's a big deal, then I could see us being worth around $5, if not a bit more.
20, 30, 40, etc... are NOT realistic price targets for this company what so ever. I highly doubt your buddy is actually someone who works on wall street considering he can't do basic market cap calulations. Unless there is a massive reduction in the OS, which I am not seeing happening, then I think KATX long term could be worth as much as $10 to $12 a share. But we are talking years down the road and after they sign a few JVs and prove up 3 or 4 of their properties. But hey, I don't think anyone here would complain about having this stock be worth $10 a share in a few years.
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