JNR Resources Inc JNRRF

RE: Rick

[swmoore]

It is positive that Rick and David are picking up shares over the last couple of months below $1.00.  $0.50 sure seems like a bargain today, but I must reiterate the U stocks are getting little respect for their property and/or assets.  I called JNR today just to confirm the current cash position ($6.5 - 7.0 million) and tried to get a figure on their current burn rate, but the IR person wasn't able to give me that number other than that they had enough money to get them through the end of the year, and that financing would not be a problem. 

Regardless, similar to PXP, MM, and TXM it seems the share price is drifting down to companies NAV.  JNN has many more shares outstanding (80 million +) than PXP, MM, and TXM and would require a share price of  $0.10 to be at it's cash value.  Now I don't anticipate the share price actually getting to that point, but it could very well be possible that the market cap deteriorates for no other reason than people just throwing in the towel in disgust.

I keep lowering my stink bids as the price falls., but at some point going to have to take a position and average down.  Another reason I called was I was worried there was some selling in advance of a news release, but I was given no inclination on the phone anything was on its way.

Would someone mind going over JNR's cash, assets, and resource and justifying it versus the market cap, or is that just futile.