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Teras Resources Inc V.TRA

Alternate Symbol(s):  TRARF

Teras Resources Inc. is a Canada-based mineral exploration company. The Company is involved in the acquisition and exploration of mineral property interests in Montana, Nevada and Cahuilla in California. Its projects include Cahuilla Project, Corral Canyon, Gold Point, Superstition Mountain, Sunny Slope, and Watseca Mill. Its main project is the Cahuilla project, located in Imperial County, California. The Sunny Slope gold mine consists of approximately 16 unpatented claims, which is located in Mineral County, Nevada. The Gold Point property consists of eight unpatented claims, which is located in Sierra County, California. The Corral Canyon Gold Project consists of two unpatented claims and is located in Churchill County, Nevada. The Superstition Mountain Gold Property consists of six unpatented claims, which is located in Imperial County, California. The Watseca Mill Property is located in Rochester Basin, Montana, which includes a mill site and 13 patented mining claims.


TSXV:TRA - Post by User

Bullboard Posts
Comment by kingofcottonon Apr 18, 2011 10:10am
218 Views
Post# 18445827

RE: RE: Still Flying Under the Radar

RE: RE: Still Flying Under the RadarThomsoni: I enjoy your posts, but I wonder about your valuation of Teras's Coahilla interest. It's my understanding that Teras can eventually earn a partial interest of 65% in Coahilla. It is not clear to me who is the operator of Coahilla. It is also my understanding that, on a diluted basis, there are well over 100 million Teras shares, plus perhaps even substantially more shares for management for incentive and consulting. (from latest quarterly report: "the Company accrued $720,000 in consulting fees for the three officers which are expected to be paid out through the issuance of Company shares.") Perhaps use 120 million shares? A lot of these warrants and options are at very low conversion prices, so one can almost ignore the cash to be received on exercise of the warrants. And I don’t think the “share issuance party” is over yet. I can’t help but wonder whether this company is “gold mine for the officers and directors”, not the shareholders.
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