MicroCap.com called this bang on !!www.microcap.com
Khan Resources (KRI.T
.61)
www.khanresources.com
As I mentioned this week, I had a sneaking suspicion something was brewing with Khan... and it is !!
Atomredmetzoloto JSC (ARMZ), the world's 5th largest uranium producer is offering to buy them out for
.65/share. This is more than a double for us in just a few months and more than 50% for the week.
A person can wait a few months and take the full
.65 or sell into the market and free up the cash right away. I doubt we would see a competing bid.
This proves again (and again, and again), that bottom fishing cash and getting the underlying assets or business for next to nothing is a very solid strategy that usually carries little risk. It also proves as usual that the market is typically wrong when it comes to many of these small stocks. A
.28 price on Khan was a joke.
Congratulations to those that bought and held.
Note: Western Uranium (WUC.T) near cash value of
.80 is equally ridiculous (as I have been discussing). Phoscan (FOS.T) may be similar near
.34 if that large phosphate project in western Canada can attract some attention from the Asians in 2010.