Anybody want 5 million ounces of gold cheap?It's suprising how some mining company stocks are being bought up hand over fist purely on spec, in the hopes they will someday find the perferred 5 million ounces to make a mine, or be bought out, when Spa here has it and the buyers just nibble.
Thats a head scratcher.
Ten years ago the 5 million ounces would be valued in a buy out at approximately $100 an ounce.
That is $500,000,000 dollars divided by 342,000,000 shares = $1.46 per Spa share
Today (so I am told), its value in a buy out is $150 per gold ounce = $2.19 a share.
This, I believe, is ultimately the proper value of Spa in a bullmarket buy out.
And this is currently at $0.17?
There is a lot of room for appeciation here when the bullmarket returns on a roll.
And I believe it has just started.
Giddyup!