GREY:OLEPF - Post by User
Post by
tony1969on May 25, 2013 11:50am
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Post# 21441037
Gold seems to be acting a bit better here....
Gold seems to be acting a bit better here.... close to $1400. It seems like it is consolidating in this price range. As far as OLE things should start to move at a quicker pace once all the governmental issues including the 25% buy in deadline passes. Heard that the independent appraisal of the project was established at almost $400 million yet we trade at a market cap of about $85 million. This means that the people of Senegal (if they were to buy up to the 25% that they are allowed to) would owe the OJVG about $100 million. Using that figure ($400 million) and applying our 43.5% ownership and dividing it by 137.5 miilion shares yields about $1.27 per share. One has to figure we should be able to get at least half of that or $.63 per share in stock from TGZ assuming no other much higher bids develop. We need two important things to happen here in the short term in order to get a decent offer. We need the price of gold to start trending higher and we need TGZ to move higher as well. TGZ appears to have stopped its slide. Comments?