Hey Josey...
I wouldn't say snatched up... these shares were issued in exchange for assets (and it looks like a big and potentially valuable asset). Again, the shares of FTMR are being spent to acquire assets... at a valuation of $2.00 per share (as the press release (and SEC.gov Files 8-k) says).
And what was acquired?? Apparently, 465 square kilometers of prime mining territory in Myanmar Mining Project. Which, if my math is correct, comes out to about 180 square miles of prospective gold mining.
If you want to extrapolate... that comes comes out to $166,666 dollars per square mile or $260 per acre.
The $30 million dollars comes out to 15 million shares. And what are shares worth? They're value or worth is what the folks accepting them value them at. It's remarkable really. Real hard assets are being acquired, or purchased and exchanged for shares of our company.
Again... this is what we as a company are paying for them... they will probably have a developed value that surpasses this by 5 or 10 times (or more). Eventually the share price will reflect that assets and their earning potential.
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