700,000 net ounces gold. 3 cents cash.from what i can tell these guys have over 700,000 ounces of gold net to them on their Song Jiagou project in china. (1.2 million ounces with 60% JV interest)
from what i can tell they will have approximately $7 million in cash on hand.
from what i can tell they will have approximately 220 million shares out post financing.
with the financing proceeds and the sale of their Sawaya project and after paying liabilities they will have 3 cents per share cash on hand. $7mil / 220MM shares out
acquisitions for gold ounces in the ground on advanced exploration targets was i believe averaging $31/ounce LAST YEAR. 700,000 ozs x $31/oz = $22 million. that works out to 10 cents per share. add in 3 cents cash you get 13 cents per share true value here.
nice gains coming.
ggup