Crodile Gold an ENORMOUS winner for AAB!At 7/31 we held 8,750,000 common shares of Franc-Or and another 8,750,000 warrants at an exercise price of $.12
- reported at an estimated fair value of $1,011,175
Even better, we held 7,500,000 common shares of Crocodile Gold and 2,500,000 warrants at what I believe is an exercise price of $1.00 - reported estimated fair value of $4,000,000
Our Franc-Or holding become (I believe3) 1,388,888 common shares of 'CRK' and 1,388,888 warrants at an exercise price of $.756 - with 'CRK' closing at $1.29 on Friday, these are now worth: $2,533,331
Our original Crocodile Gold shares are now worth $9,675,000 and the warrants are worth another $725k!
So at 7/31 these investments had an estimated fair value of $5,011175
At Friday's close, their fair value was: $12,933,331!!!
AAB now has 87,503,839 shares outstanding... yet our new Crocodile Gold holding is worth nearly $.15 a share by itself!!
Not too shabby!! :-)