Market Cap 3.9 millionWas just rereading the past news release.
In November, 2008, Mountain Lake exercised its right to convert$2-millionworth of interest-bearing convertible notes. The notes boreinterest at 7 per cent per year and were convertible into one millioncommon sharesof Etruscan Diamonds, a corporation incorporated under the federal lawsofCanada in which the company holds a minority interest, at a conversionprice of $2 per share of Etruscan Diamonds. All accrued interest hasnow been paid and the one million shares of Etruscan Diamonds have beendelivered to the noteholders. The company owns an additional 4.35million shares of Etruscan Diamonds, all of which are unencumbered.
Have I got this right?
MOA owns 4.35 million share of Etruscan DIamonds with each share valued at $2, so total worth of $8.70 million, more than double our current market cap?
Then 30% of about 443,000 ounces of Gold at Valentine Lake and growing. Say $200 an ounce conservatively = $26 million more than 6 times our current market cap?
Not even bringing Bobby's pond into the equation we are already at $1.30 a share.
I'm getting sick, I think I'm about to puke, someone get me a bucket....