RE:RE:uex should sell coex metals after increasing resourcesAccording to historical records, UEX had 183,603,000 shares outstanding in March of 2008, so was not a 1/10th of current shares. At the high bubble of $ 9 per, that was Market Cap of about $ 1.6 Billion.
No reason UEX in the next run will not top out again in a few years at about $ 1.6 Billion, if not a bit more if things go real crazy when it is proven that the Kazak mines are running on fumes and the remaining LBS are too deep for them to get without mucho dollars. Which makes UEX @ $ 5 per share not unrealistic at the next peak.
And on a side note, " selling CoEX for about $ 200 to $ 400 Million...", do not know about you all , but a range of $ 200 Million is a pretty good chunk of change to me.
Rio or another big boy cut Roger et al a Check for an even USD $ 500 Million and call it a day for CoEX......... Distribute $ 150 Million to UEX shareholders as a special dividend and use some of the rest to find the 500 Million + LBS lurking in the Shea Creek area. And then NO MORE DILUTION ever again.
Not an easy valuation for CoEX as of today. Estimated LBS in the ground does not directly translate to market value. Back of the napkin figures - West Bear Cobalt as of November 25, 2018 : Plus the Nickel which adds significant dollars........
3,100,000 LBS @ $ 25.06/LB = $ 77,686,000
3,100,000 LBS @ $ 42.50/LB = $ 131,750,000 as of May 15 , 2018
3,100,000 LBS @ $ 58.00/LB = $ 179,800,000 Est Mid 2020
Expanded WB Estimate when/if more LBS discovered and indicated
10,000,000 LBS @ $ 25.06/LB = $ 250,600,000
10,000,000 LBS @ $ 42.50/LB = $ 425,000,000 as of May 15, 2018
10,000,000 LBS @ $ 58.00/LB = $ 580,000,000 Est Mid 2020
Finally, admitted Pie in the Sky Estimate if "Ancient Sea theory" is realistic and many "pod lenses" of Cobalt are found throughout the WB property AND when Electric Cars are everywhere in 2023.
25,000,000 LBS @ $ 75.00/LB = $ 1,875,000,000
So what is CoEX really worth and thus what is UEX really worth ? I can tell you one thing. At the current price of $ 0.17 per share - $ 10,000 invested at the IPO in Apple would be worth about $ 2.58 M + dividends today.
Seems to me a few bought some U shares in a few companies at pennies and sold some for almost $ 10 per in the last run. Worst was 22 to 1 and we all know who that was. Pretty confident that UEX is back in THAT horse race.
MM