potential to get to 3 dollarsI have looked at this very closely, built a dcf model and at 1400 gold, this should be a 3 dollar stock. At 1300, a 2 dollar stock.
they will definitely need some financing next quarter, so I dont expect this to shoot up that quickly anymore. no higher than 1.50 - 1.60 by next quarter, until a 20 mil dollar financing is made. Pretty clearly canadian brokers wanted a financing at low levels, but smartly, management did not bite, so we rerated to the 1.30 level.
I hold my original position and have actually added a lot from .74 to .90. Long at 1.00 now and am waiting for he long haul. Would not be surprised to see Simmer and Jack Mines merge with FIU to make a mid tier producer. We may get a better valuation in this case and I would crtainly support the merger. In my eyes, FIU is a complete no brainer, and the notes are even more of a no brainer.
I dont see us below 1.00 ever again, and see 1.50 by year end, or early January...a financing sometime in Januray at 1.50 level, then we are off to the races to 2.00 by March.