Valuation follow-upAnd, atop the roughly $12 million, or $0.10/share in cash, they have roughly 27 million ounces of Ag equivalent silver reserves in Mexico (100%-owned) and 6 million ounces of Ag equivalent ounces of Ag equivalent silver reserves at Erbaohuo (70%-owned), not to mention that they commissioned a 43-101 report to be done at Laopondao roughly a year ago (not sure when it will be done).
Subtracting the $0.10/share of cash from the share price leaves $0.07 share, which is what the entire 33 million ounces of resources are being valued at (roughly $8 million, or a comedic $0.25/share). And thus this values the entire upside from drilling/exploration at both China (40%-owned) and Mexico (100%-owned) at ZERO. Easy to make that valuation when the company has no money, but when it now has 2-3 years of cash reserves?!?
And you know that major new personnel will be coming on soon, what with $12 million in the bank. But no need to listen, I only tell it like it is (as I always have).
yoyo