OTCPK:GMNFF - Post by User
Post by
goldpigon Dec 18, 2008 7:10pm
490 Views
Post# 15655751
$123 Million In Cash
$123 Million In CashNow that the deal has been consummated, we can get a clear estimate of the cash position of Gobi.
First, there is the $87.9 million received from the sale of the 3 mines. The $5 million tax has been paid so this is net.
To this add the $7.8 million in paid up capital to Gobi, $18.4 million in cash already on hand, $6.5 million in receivables which has been transferred, and $2.8 million in a shareholder loan that will be paid next week.
The total cash is $123.4 million or about $1.77 per share. This cash position will grow due to interest accrual until used.
This is a huge cash position to hold, and Gobi still has 5 advanced projects to choose from plus what should be an incredible array of very cheap takeovers with great projects but starved for cash.
To be able to buy all of this for just $0.60 or $0.70 is an opportunity that comes along once in a century.