September was pretty harsh, insipid bump up from summer trough and then another tankola ... partly uncertainty of the management issues now being resolved, but also the PoG wasn't helping much, most all of the juniors have tanked back considerable ... a blahh time
I did some rough numbers, figured at .30 ngt and .45 aas the combined market caps were 17-18 millions US ... this was fully diluted and of course cash comes in on full dilution, so really net net it's around 15-16 millions, maybe a shade less .. no matter, take usd18m and divide by the 3m ounces of Mulatos, you get a current market value for each ounce of 6 bucks US ... that is pretty cheap imho, especially when in the bargain you get somebody like Chester Millar, who will get financing if anybody can anywhere ...... Placer and Kennecott spent 30 millions US developing this property, now they've got the tax loss and we've got the mine ... sure hope we're the smart ones -g- .... cheers
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