GREY:FNKLF - Post by User
Comment by
risktakeroneon May 31, 2011 12:25pm
485 Views
Post# 18650170
RE: This is a BIG SMALL Move
RE: This is a BIG SMALL MovePretty much what I am betting on. You have an existing mine, not a new mine that may one day go into production. They have the experience already, they know the reserve, they know their cost, probably around $4-$5 per lb. They have an estimate of 5-6 years of life in the existing mine with an extension of perhaps 2-3 more.
The news release just confirms plans are moving forward, no one really cares about the present earnings. Like it said, any money they earned was interest, not from production.
Shares outstanding are a little high or real high for my liking, but at .17-.19 cents it is pretty much a no brainer IMO.
They now also have over 50M cash to get it going, trucks are moving into place, employees are being hired this is the real deal.
lets say it runs to .25 or .30 cents and does'nt go any higher, still not a bad investment.
downside, perhaps .12 -.14 cents. This would only happen on really bad news most likely.
Hey do your own DD, I have lost a lot of cash in some other dumb investments, but this one I am hoping is the real deal.
I would welcome some support around .17-.175 before the next move up.
Good Luck,
RT