my 2 cents...
2 bad statements in the past 2 days. They could have put them out in the same day.The bottom line with the ridiculous numbers that they have used the company has still got a npv of over 800 million...considering amounts of shares outstanding 165 million..if u do the math company is still worth around 5 $ a share...after dilution of new notes....+ the company has investment of over 500 million + 150 million cash for additional mine develeopment...that puts a figure aound 6-7$ a share....
obviously there is more.....to this...29 million ounces outta which they are only accounting to get 6 million over 23years.....further development could lead to even more value for the company.....
the question is why the new management is messing with the current share holders...its simple,,,simmers wants to own the company for pennies....cause they already own 55 % of it...a few bad "" screwup news"" and shares fall to under 1.30 the note price...now obviously the new president came from simmers....so one cant possibly think and wonder this is a game to obtain the the company for nothing....
dont know whether i would buy shares here....but bottom line is if u got it hold it dont bother with buying or selling...at the moment...buy more if u get it in the 1.20 range and there is a lot of value here....