Afri-Can Marine Minerals Corporation V.AFA

Question

[Meuze]

Hi All,

looking at the latest press release of the company, I understand that AfriCan have a 15% interest in the Haib project, which will be reflected for us (AfriCan shareholders) by a 50% interest in Deep-South company, through a share dividend payment.

As per the investor meeting held in Stockholm, AFA shares should be valued at 12 cent only reflecting Haib project, which would reflect a value of 26.6M (0.12$ * 222M shares) . This means that the whole value of Haib project should be valued at 175M (26.6 / 0,15), which seems to be relatively high... As per this logic, Deep-South company should be valued at 53 M.

Is Haib project really worth 175 M?? Currently, AFA value is 12M. It seems that Haib project is presently valued around 20M, where the part of AFA would be 3M (15%), thus Haib project representing 25% of his asset (3 / 12).

Arpagon29, LeGagneur or other valuable posters, could you please confirm if my understanding is correct? If yes, AFA shares are currently way way undervalued.

Thank you

Mark

[inventors]

Good number estimates, but what happens when AFA shares are fully diluted near 300 M sh/outstanding?Also, if would appear that AFA might be buying out the second 15% share portion under a new shelf prospectus?Does anyone know what the diamond side is worth?AFA could spike upward north of 0.30, but one could become a new bagholder for years if exit strategies aren't just as fast, lol?There

[arpagon29]

Hi Mark,Thank you very much for your vote of confidence, but I will have to answer your questions in two parts.First let me say that I totally agree with your statement; “looking at the latest press release of the company, I understand that AfriCan have a 15% interest in the Haib project, which will be reflected for us (AfriCan shareholders) by a 50% interest in Deep-South company, through a share

[Meuze]

Thank you Arpagon29 for your reply,have a nice day

[arpagon29]

As I have stated before, I ask a question to AFA about the valuation, and this is the answer I received:Dear Sir,The evaluation of a project like Haib copper is based on the price that  Major mining companies are currently willing to pay for copper resources in the ground.It is important to understand that the price for copper in the ground differs substantially from the current market price

[Meuze]

Hi Arpagon29,thanks for posting his reply to your question. I will certainly add more shares in a near future, almost no downside risk at this level. I cannot believe how this company is undervalued.Mark