RE:RE:Critical Mineral List True patriot - also from PEA "This claim was originally located by WHY on June 2, 2005, and is in good standing until February 28, 2023."Time is running out.
You say this stock is undervalued - it is arguably worth nothing .If only it was that simple to just take the NPV number and divide by the number of shares to find true value.The trouble is you CANT do that . If this was the only valuation premise then the market would value the shares accordingly.
If you read the annual accounts they are what is called " qualified " by the accountants signing them off .What they say is the company is only a going concern ( viable) on the assumption it can keep raising funds . In other words if it can't it's bust !!!
Valuation also has to take into account the debts of the company.These are about $6m at present .Any party that say bought ( bid for ) WHY would on day one have a liability of that amount.
The current valuation of 15 c a share takes into account cash flow ( nil from operations and in fact hugely negative each year), and asset value ( next to nothing as it holds no real assets )
They have no licences and need cash (which they haven't got )to get them - oh and to repay the 6m of debt.This debt is growing all the time .
Please don't tell me this is undervalued because of a simple NPV calculation and the market knows it that is why the shares are where they are.
Oh and with the market cap ( number of shares x share price) at some $13m who would buy this for a big premium .With the debt buying every share today's price would in effect cost you $18m !!! - and as it stands you would not have licenses to mine and a mere two years left on them .Large companies do not take risky bets like this and in my opinion this rules out a takeover .
If someone can make a case where the above opinion is flawed let's here it .