RE: RE: SPTreshold one of the good guys on this board wrote:
Do your DD Mark No guts no glory,
I feel very comfortable here,
Cheers
Situation is better than when mkt cap was over $20
Threshold
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6/29/2009 1:53:19 AM | | 164 reads | Post #27253956
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Theold management team has been replaced. The share structure has beenrepaired. The old Ecuador props are still there, and the company did alot of work in Brazil while the Ecuadorian situation ran its course.
There is no other company anywhere near 6 to 700 meters away from the Aurelian discovery.
TheirCondor property is probably worth the current market cap and then some.Look at the historical dirll intercepts from that property. They arehuge.
What you have to figure out now is: what is the closestarea play to ARU worth as a punt to the big money. They buy early andsit.
There's only 57.4 million shares fully diluted, and only 48.3 million shares out.
Fridaywas not retail volume. There aren't that many retail guys left afterthe grand gutting. Same names over here as all the rest of the hotdrill plays. A few are lagging but i'm sure they'll show up this week.And you can tell which ones missed the early Friday boat.
So current market cap is only $10 million.
Theyare closer to drilling next to ARU than they were back when they wereGoldmarca, and run by questionable management, in my opinion and thatis being kind again in my opinion.
I traded Goldmarca severaltimes back then, and even visited their booth at the Vancouver show. IfI remember correctly they ran the market cap upwards of $250 million.
Idon't think anyone would be surprised if the company traded at a $25 to$40 million market cap given the proximity to ARU's FDN, now owned byKinrross, the Condor property and their Brazilian operations. Plenty ofventure POChit stocks trading in that range with nothing of realpromise on their asset book.
This thing was dead, buried andforgotten at 12 cents on Friday am with a huge iceberg ask sitting at.12 when they reminded the market of their position. The reaction wasspectacular. So now people have had the weekend to pore through the oldCondor intercepts and remember the thrill of the ARU run. There are noother area plays in close to being on the same structure as the ARU FDNproperty, so there are no other plays in the area.
it's not going back below .15 again in my opinion, and that would be a stretch low on a large market order sell.
Shouldbe an interesting week, greed, hope and long term position playerswanting a cheap stake in front of the drilling are all going to beplaying here. Then there will be those usual SH id's who missed theaction and want to talk it back down. What a zoo.