Bulk Buying - Spin Out timeline - ValuationHmmm... somebody just picked up a couple of 100 thousand shares. Price jumped to $3.15.
I've been looking at the timeline of the Spin Out Proposal forming a royalty company with separate exploration entity:
- Oct 25 the announcement that Roland Butler is hired on to lead the Royalty initiative
- Jan 4 the announcement that JJ O'Donnell as VP of Exploration for the Exploration initiative
- Mar 4 Roland Butler completes buy in ($4,380,000) for 2mil shares and matching warrants [that puts him about $3mil to the good on the deal so far at current price]
https://www.callinan.com/s/NewsReleases.asp
Interspersed in there is some happy talk about drilling results.
So we are now approaching 5 months out from the Spin Out Proposal being announced. I would hope that by the 6 month anniversary we will have a date for the implementation.
Also, looking forward to more results from the winter drilling program and a statement of what the effort will be through the summer.
Valuation numbers being bandied around on this forum look for an easy $6 - $7 on the outcome. I'm hoping for $10 -$12 given the commodity cycle, the attractiveness of an income producing royalty company [shout out to all you baby boomers], the solid mineral prospects, and the talent hired on to manage it all.
What's your take?
North4st