More Cash than Market Cap.Once again it is fun to see Sprott & Rule pull off another ingenious restructuring caper.
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Here is a link to our news release about the PBS Coal Ltd. takeover, in case it got lost by Stockhouse.
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https://micro.newswire.ca/release.cgi?rkey=1608226130&view=58517-0&Start=0
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So it says SCP will be getting C$225,300,000
Then it says that we will be getting another C$100,000,000.
So that is a total of C$325,300,000
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So what is our market cap?
Stockhouse says it is C$175,400,000.
Stockhouse also says we have 51,140,000 shares out.
175,400,000 / 51,140,000 = $3.43 (The current share price.)
325,300,000 / 51,140,000 = $6.36 (The value of the cash per share of this transaction alone)
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This is not making too much sense.
If Stockhouse is not wrong in their figuring, then somehow something is way out of wack.
Gosh that is a lot of money.
What projects could be next?
RJ