RE:RE:Price of Gold $1400 gold adds roughly $3M to the balance sheet
see starred items *
ASSETS
Cash 10,559
Receivables 44,254
Prepaid expenses 63,401
Net fixed assets (RCG) 19,910
Land (MGC) 99,270
Reclamation bond 1,070,000
Plant and equipment 3,053,588
Exploration assets 1,278,257 *
Development property 25,653,698 *
Adjust $1400 gold 3,000,000 *
Total Assets 34,292,937
LIABILITIES
Accounts payable 7,270,353
Promissory notes 103,551
Credit facility 8,244,300
Asset Retirement 569,535
Deferred tax liab. 2,147,000
SISP/DIP 2,200,000
Shareholder equity 13,758,198 *
Total Liabilities 34,292,937
shares outstanding 174,790,696 shares
book value = 7.87c/sh
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Notes:
1)
assume balance sheet items approximate value
Tangier & Forest Hill are probably valued above carrying value.
For simplicity we assume Dufferin is valued less than the carrying value.
And that the difference is a wash.
1)
originally posted on March 19, 2019
https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&postid=29507943
3) there are about $20M of tax credits
4) RCG uses $1250 gold and a 75c loonie