...and good lookin' share structureIf memory serves...
About 20 mill FD now, plus 10 mill warrants from original IPO at $.30 that
expire this summer. Warrants are trading under CBI.WT
Part of this new move above $.25 IMO is just the state of being very undervalued
and off almost everyones radar. I recall that the original IPO in summer of '04
was done at $.25, with SPROTT as the major player. Embry must have liked the
look of things to ok the deal. There has been no dilution since the original IPO.
I have had brief convos with current and former CEOs. Original CEO Ian D was
there under contract and said "They were extremely lucky to get it IPO'd in that
summer of '04 and speaks to the quality of the properties and the deal itself"
For those that don't recall, summer 04 was quite a pessimistic time for precious,
with the stocks down and very few deals getting done.
Taking the above into consideration, I say this birdie can fly around on it's own
at 40 cents and from there results will determine the up or down of things.
This also assumes of course that precious stays healthy.
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