$25M asset value 25M assets
- 20.5 liabilities incl SISP/DIP
= 4.5M share holder equity
The company had $25M of assets in June 2017 prior to the bulk sampling.
A $25M valuation says the bulk sampling did not advance the value of the company.
Bulk sampling was underfunded and only mined 5,846oz.
From the PEA one would expect 21,600oz/yr.
Leigh noted some misses in the bulk sampling.
https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&page=52
An asset buyer might not want the tax credits if they have sufficient tax credits themselves.
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Feb 13, Leigh wrote ...
IF the company can sell the enough of the property to cover a negotiated debt settlement and still hold some asset, they may wind up being a takeover target again, as there MIGHT be a property asset and there will still be the Tax Credits.
https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&postid=29356634
Feb 16 ...
https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&postid=29375766
https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&postid=29375748
https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&postid=29372198