UPDATE crap - inshulayour attempt to rationalize like that is awfully flawed
Hendrix2 posted a far better understanding of what just happened
in my opinion it was the cheapest & smartest way to raise capital using their corporate partners
CYP.v & SYH.v are not the same co's although they share office space - that's what juniors do to save money
I know of a corp office that operates 9 public co juniors, otcbb and pinks inclusive, and small co's have learned to share resources (servers, reception, IR, legal etc.) this way esp. since crisis let alone other mega crisis like the days of the US government coup via election debacle, 9-11 etc.
fyi, SYH.v has about 114M o/s at .035 by .04 for a market cap of aprox $4M (disregard options out of money)
consider that they sold 2.5% to CYP for $250k means internally with zero proof of value CYP grants to SYH the value at a mathmatic ratio of [ (.025) / (
.250M) ] = [ (full value 100% "1" ) / (unknown _X_) ] , or writen in lamens...
=> .025/.25M = 1/x
=> cross multiply
=> .025x = .25m
reduces to
unknown value of property X = $10M, and Skyharbours stake was 20% means our portion was worth $2M by CYP mngmt with ZERO proof of gold
compare to our market cap of $4M
so without backing out the $250k cash there is about $2M of speculation + $2M of property & cash worth here, but that means all other SYH.v properties are zero, and we already know we can get gold at McKenzie so I wouldn't consider th $2M speculation as expensive since they have lots of other properties to last the next decade to drill
of course they would have to raise capital and dilute to drill other lands (Baird property is JV with Goldcorp), but they did this sale so as to not create additional share supply means they probably think they have a chance at finding good results here soon before the $250k gets used up
the value in this stock is really from Don Huston's Dad, old man Senior is 83yrs (they want to prove this up before he dies please keep in mind) , Carl Huston (think is still is a director, or at least he was in 2007 when I got into this pig), anyways, Carl was exploraion manager for 10yrs of Goldcorp's rise to fame = Dickenson Mine and this got renamed teh RED LAKE MINE
Carl staked many properties way back in the day, and gave certain properties for Don to make it on his own, so CYP.v is more the one trick pony for Broulan Reef, and if this drags on forever then SYH.v has a lot of other area plays next to Rubicon that it can tap into
it would just be nice to get the share price up to .50 if they get some nice grades back, and either way Goldcorp already knows the trend run underneath - they have been using gyroscope drill technology so they will eventually get to where they want it to be
see
https://www.drillguide.com/ for an idea of the kind of technology that is out there these days... costs though
, and see also page 7 of this next PDF link for IamGold's longest directionally drilled pilot hole achievement "RVDS" tool (back two years ago keep in mind); see also page 8 paragraph 2 for what is about to become the largest system of underground mining tunnels in the world - this is a must read to understand that this property simply is at the INTERSECTION POINT and is why they feel the motherload is way down there - it's not often they keep trying like this esp. with a major that could've given up on this company
you must all READ THIS AND SEE THE MAP
https://www.premiergoldmines.com/s/NewsReleases.asp?ReportID=370762&_Title=Premier-Red-Lake-Joint-Venture-to-Participate-in-Major-Underground-Developm...
Exall traded sideways from .15 down to .13 and then to .10 for months and even i think got to .09 or so before it exploded, and those who didn't have that patience have probably sucked back a few bottles of whiskey to try and forget
there is no reason to sell this stock in my opinion