Replies to post #493 on Moydow Mines fka MOY

[longjonsilver]

DITTOS russ, your encouragement got me in on this play for 10% of portfolio. im in at .82$C - my wife is in for 25% of portfolio at .76$C. ill gladly take my 46% profit in NEM shares and im gonna keep the rest - although they dont communicate well with shareholders - at least they deliver the goods - u bought this to make a profit no? well, u did, didn cha? waddya want - talk or profit? there are a lot of companies that give lots of talk but wheres the profit? im gonna stay in with this one. my MOY shares are free after all and they have proven that they can deliver the goods - and with pierre lasonde saying that they are surprised by the goods in ghana, and with MOY having more properties in ghana this is a long term value play imho. if MOY doesnt trade at least at .40 post distribution, i will be disappointed, but waddya want? tickle your portfolio or deliver the goods in the end? been trading well lately by the way.
jon

[amarksp]

MOY-using fully diluted shares

Need to consider the 1.96M in the money warrants/options to derive fully diluted shares. Warrant/Option details at very bottom.

Bottom Line:
*28,375,264 Fully Diluted Shares
*US$ value of NEM distribution at $37.70 = US$.80 per share
*For each share of NEM, MOY shareholder will recieve .021145 NEM shares
*Warrants/Options proceeds will be C$2.05M
*With option/warrant proceeds, cash value of MOY shares post distribution will be US$.28

Pretty sure this is accurate...
______________________
800,000 total NEM shares to MOY 800,000 800,000
% distribution to MOY shareholders 75% 100%
Share distribution to MOY shareholders 600,000 800,000
26,414,014 MOY shares o/s 26,414,014 26,414,014
Warrant & Option Exercise 1,961,250 1,961,250
Fully Diluted MOY shares o/s 28,375,264 28,375,264
0.021145 NEM shares per MOY share 0.02114518 0.02819357
$37.70 NEM share price $37.70 $37.70
Value of NEM Distribution US$ $0.797 $1.063
Value of NEM Distribution C$ $1.115 $1.487

Post Distribution
Cash In Bank-Can$ $9,000,000
Exercise of Warrants/Options 2,052,625
Total Cash C$ 11,052,625
Cash per Share C$ 0.390
Cash per Share US$ $0.279


Warrants & Options Shares Proceeds C$
Cdn $1.00 February 5, 2004 1,100,000 $1,100,000
Cdn $1.15 September 24, 2004 792,500 $911,375
Cdn $0.80 July 11, 2004 68,750 $41,250
Total 1,961,250 $2,052,625