Post by
Wangotango67 on Sep 30, 2022 1:30am
PERMIT -
Having a permit in hand - nowadays - is like - gold.
Just ask any junior in, Quebec, Ontario, Yellowknife, or B.C..
Incredibly valuable.
Let's look at it from a Sprott - perspective.
18,750,000 - common shares @ 8 cents
18,750,000 - warrats @ 8 cents.
Does one drop another - 500k and sink 2,000 meters ?
1,000m Glade
1,000 Alwyn
And square each up with an inferred ?
Calculate - Scad
Calculate - Glade
Calculate - Alwyn
Of course...
an inferred resource for each would not squeeze the full extend of each deposit.
But... on the flip side - look at what's going on in the world.
Does one - utilize all thier share power ( common + warrants )
37,500,000 shares if ( w ) converted
Drop a few more bucks.... and tallly al lthe minerals ?
Vested interest to date - 1.5 million.
Tack on another 500k
- 2,000,000 cash out of pocket
Exercise - 4 million warrants - would provide ( $0.11 cents )
$440,000
Over all - Share structure of junior remains same.
Sprott holdings - 18,750 common + 14,750,000
Keeping - common + warrants - to Sprott's benifit -
259,000,000 shares outstanding ( @ ) 33,500,000 - Sprott - ( warrants coverted )
if larger party were interested and payout occured.
= 13% interest ( Sprott )
259,000,000
+ 4,000,000 ( warrants converted )
263,000,000 outstanding ( McD )
iF I USE THE ( ROUGH ESTIMATE - FORMER POST - Scad + Alwyn ( not incluidng Galde )
= $635, 186,166.00 - cdn ( in situ metal value ) hypothetical
~ 263,000,000
= $2.41 / sh
Would the stock ever reach this value - in this market - not a chance.
If a roll occured - still dismal -
And... others would have far more control over the junior, if one wanted to - as most know.
So.... would we ever get top dollar for the - reosurces ?
No....
But we could get something half decent.
Divide the land - 1/2 + 1/2
Segragate Scad + Galde + Alwyn ( with permit )
Keep - eastenr half - Jovan.
What could the 3 claims with Scad permit command ?
All depends on the ounces and copper pounds.
And... all other potential of, cobalt, and Pd.
Yes... Pd was detected.
Would someone pay us $0.60 - $0.75 cents ?
I don't know... would all depend on how McD framed up the 3 showings.
Scad + Glade + Alwyn.
If they pushed the Alwyn for a larger constraint - supposing the outcrop or sediment depression
were loaded in same value of copper gold... it would certainly help - add more value.
33,500,000 x $0.60 cents
= $20,100,000 cdn - - with $2,000,000 vested ( figures above ) added drills of 2,000 m
10X ( interest ) of original investment.
Rolling the stock - would decrease the Sprott value.
I'm not sure how the - donated shares - work... ( still valid ? ) come back into play later ?
At what point - does one say.... here's the levy, no-more... let's crack a deal ?
If the roll occured... it could go on forever - If one has a special interest in developing
The entire 30km parcel... lol
Factor in - New Age Metals.... which Sprott is also vested in.
And... these two juniors are literally neighbors - short by few km's,
Yeah... .check the maps out of how far SPJ stretches and where New Age is located in,
River Valley. Does NAM have a permit ? I don't think they do... which makes SPJ with a vantage.
Does one push it a tad further.... few more drills... firm up 3 inferred resources ?
Or.... roll it ( 10 : 1 ) and tell shareholders - it's just the way it is...?
If only one were only to have a crystal ball.... Know who would enter onscene next....
Could we have an - inclination - with who was seated with in - McD ?
lol
10 : 1 roll... to me it sounds like -
the warants would still exercise at - $0.11 cents ( warrants would not see a roll )
No loss for Sportt... actually a - gain - if all were ewxcercise - potential - more share ownership -
$2,035,000 ( 18,750, 000 x $0.11 cents )
- $1,500,000 vested
= $535,000 cdn ( with the addition of 18,750,000 donated common shares )
YET -
Shareholders would be out - - 10x less shares.
With a new share structure in this market - would the stock ever rtise beyond $0.11 cents ?
lol - what if there are others in the stockand combined - control the direction of junior ?
More years... more stress.... for common shareholders.
So... which is the easier path ?
Which path provides more value for - all - or - just a few ?
Large lands like SPJ's
can become a target of a larger player - say in ... Suds.
SPJ - could easily become a party for 3 - larger player + Junior + Large investor -
Shareholders - are mere standby onwatchers...
10 : 1 = places the squeeze on common investors....
What's that saying by - Clint ?
For a few dollars more ?
Yeah... .shareholders were shunned chintz of a - resource calc ?
No resource calc - doesn't move the stock.
Nor does... switching up = prez's nor... running to other showings... delays - all over the map.
Yes.. .hard work was performed. But... at the end of the day... no resource calc - cancels the value for shareholders.
Roll announcment then... 2 press releases - showing what was found ?
On going drilling as a buffer ?
Surprize - look what we now found - so... let's do a 10 :1 roll....?
Sadest part about investing in - Mineral Exploration ?
Shareholders don't get to see the drills ahead of time.
Others know first hand what they've found.
Imagine being shown all the cores with an XRF signalling off all the mineral values ?
Then... asked... do you like ? Wanna invest ?
lol
It's the way it should be.
And i ask... where is the value of al lthe effort, work, drilling costs, and permit in hand ?
Certainly not showing in the - stock value .
Which makes it unfair to investors who've - invested at higher share costs.
No stock shoudl be rolled.
That is... if the fair market value considered the - in situ metal value.
But then again... one needs a resource calc - right ?
We never got one.
Cheers.....