Bog; All good observations and questions;I think it is pretty obvious that few want to put $$ into the operation while PALA is running the show!
We need a valuation that looks at the pieces;
- value of the operating mill
- value of the tax losses
- value of the significant land holdings ( and question what if any drilling have taken place?)
- sorting out if the underground is capable of being mined?
I havent gone back to look at the amount of debt= however my memory was something like $50 million??? and thus I doubt if the pieces as noted above are worth less than the debt?
It is interesting in that Vlad could likely have kept more for himself if he had loaned $$ in rather than issuing shares -BUT???
Other thoughts appreciated.
Rock
If others would comment - however my gut tells me that the problem is PALA & Vlad who cant accept that he wasout of his depth on NCU!