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Wednesday, September 28, 2011 8:42:50 PM
I have no access whatsoever to the companies books and didn't get any of this from the company. It is presented without their knowledge. Though I have warned a couple times I may do this so they would have the opportunity to object if necessary but I have heard nothing.
Current assets-as of payment for 2nd ship of 36002 tons (Aug 8 PR)
cash from 2nd ship 36002 by est 170/ton by est 50% margin
= 3,060,000
Other cash 40000
Accounts receivable - assume zero
Inventory-not counting any iron left at port after Loreto's departure.
3-18mm 29k tons at spot of 170= 4,930,000
1-3mm 92k tons at 85% of spot of 170= 13,294,000
iron fertilizer 50k dmt by est 170/ton= 8,500,000
copper 5000
gold 2000
total inventory 26,731,000
Total current assets 29,831,000
Long term assets
Property, plant and equipment 4,000,000
Nazarena-concession/geo mapping 100,000
Total assets 33,931,000
Liabilities are more difficult to estimate but I will assume 4 million to offset against equipment etc of 4 million. That way if more of the equipment was leased instead of bought it wouldn't matter for the equipment asset and the liability would be reduced by the same amount. I may provide detail of this later.
Liabilities could be any where from ca 2-5 M.
So total net worth or book value of $29,931,000
Imo. I'm not a financial adviser nor compensated for my posts.
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