Post by
tony1969 on May 25, 2013 11:50am
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?
Comment by
arlene2 on May 25, 2013 3:54pm
Tony--In your possible example 1) Shouldn't you have divided by approx 150 million shares and not 137.5 million shares or 2) If one believes NDM 1.6 times 150 million ????
Comment by
arlene2 on May 26, 2013 12:07pm
Tony----Thx for your response/explanation.....Makes sense.. Regards, Arlene2