GREY:GYPHQ - Post by User
Comment by
red911on Apr 30, 2012 8:58pm
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Post# 19854391
RE: Mineral Ridge Stake Sold
RE: Mineral Ridge Stake SoldSo... 30% of Mineral Ridge bought by Waterton for $9M at their own auction and there were were no other bidders. An artificial value at best but values Mineral Ridge at $30M. Seems like quite the steal but given small stake, covenants etc. not surprised there were no other bidders. SGN market cap currently about $100M... 70% stake and operator status. Again makes GGN market cap of about $30M seem rather ridiculous... that is assuming production exists in some sensible form... which we really don't know though I guess. >