Worst case valuation...
The mine was bought by Medina for $360,000.00 so I suppose that is a safe resale value of the asset as it sits.
$360,000 / 970,000,000 A/S = 0.00037 PPS
Or best case valuation...
The 80% interest of the mine was bought by SIRG for issuance of 12,7500,000 shares of SIRG stock, the return of 5,358,000 shares and a payment of $125,000 (we'll assume that this was actually paid). The current PPS of those shares is $0.0061. So...
((12,750,000-5,358,000) x 0.0061) + $125,000) / 352,520,585 O/S
(7,392,000 x 0.0061 + $125,000) / 352,520,585 O/S
$45,091 + 125,000 / 352,520,585 O/S
$170,091 / 352,520,585 O/S
= 0.00048 PPS
The PPS should be between 0.00037 and 0.00048 and is currently about 20X too high based on the value of the company's sole asset.
