Extremely oversold and about to announce copper mine funding
Again end of quarter we should have US$20M in cash with repayment of loan from the royalty company. Here are estimated net assets values. Our market cap is around US$26M at $1.04 Canadian per share. A year ago we were at $3.20 Canadian.
Granted Corsa and Inplay down over 50%. Again $20M of our $26M market cap is cash! Basically market is saying the rest is free! Sprott should be announcing financing for MTV mine expansion any day, they filed the technical report about two weeks ago. Look at their web page.
1. Cash - US$20M.
2. MTV mine has a NPV of US$129M over 6 year life and after tax should be generating as much as US$34M in cash after taxes in 2020.
3. Corsa Coal - US$9M
4. Inplay Oil - $4.4M
5. Beretta - $7M
6. Lac Otenuk - $5M
7. Virginia Energy $1.8M.
Total assets around US$176M/35 M outstanding shares or US5.00/share. Current stock price low US$0.70’s which is mostly cash. Again depending on development of MTV mine and copper staying around $2.70 per pound.