Alpha Minerals Inc ESOFD

From Cantor Fitzgerald April 30th

[Chattyc]

 

 

FCU / AMW Valuation

The valuation is determined based on a FCU basic share count of 149.45M

shares outstanding, $17M in cash, and 9.8M options and warrants outstanding.

While FCU management is currently working on translating the outstanding FIS

derivatives to FCU terms, we estimate a fully diluted share count of 159.27M

shares and cash of $26.3M. For Alpha Minerals we use 29.53M shares

outstanding to reflect basic shares plus all in-the-money options and warrants.

This nets AMW with $27.57M in cash.

[leverage1971]

Thanks Chatty good find With that said why would (other than the gap that currently) exists would anyone own FCU over the long haul given that it has 5x the amount of shares OS and the same albeit slightly less cash in the bank. Once you close your gap why wouldn't you sell FCU and buy AMW? Confused by CF and Dundee's backing of our JV partner now that the DML deal is done Lev

[wintersun10]

you buy FCU because it is $10 mln undervalued based on fully diluted: FCU shares out 159.27M*$0.54 = $86 M AMW shares out 29.53M*$3.25 = $95.97M   and since i believe the FCU has more options and warrants out their cash has more potential to grow than AMW......so FCU is hands down the better bargain here....