OTCPK:HUMRF - Post by User
Comment by
carinthianon Aug 03, 2016 2:19am
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Post# 25105145
RE:Rough estimate of humminbirds true value
RE:Rough estimate of humminbirds true value
They will need to use the cash to pay back the Taurus Bridge Loan and build Yanfolila or at least the biggest part of it as it seems the money out of the "till kingdom come" dilution will not be sufficient to do that and more debt is needed. I wonder what Rick Rule thinks of Dan Betts after he got diluted like a little girl and now owns a third of the company of what he did before... And one would really wonder what would be the reason for Taurus not to lend the money needed for the project... If it is that wonderful every lender would be more than willing to finance this piece of mine... For me this management team lost credibility with this massive dilution by showing what they think of existing shareholders and diluting all of the potential for stock price gains out of question as something like 330mio outstanding shares clearly show. Even if they can get 100% of their Yanfolila NPV @1400 Gold of valuation this leads to a potential share Price of 0,63USD which is a 55% potential or so... whereas having it done without dilution would bring us to 1,5USD/share when we only assume full valuation of Yanfolila at 1250 Gold... See the difference? As I said, this Management has lost my trust and I haven't seen anything that would Signal to overthink it... Just my personal thoughts. DYODD. carinthian