RE: RE: Erin Ventures Book Value (US$7.12/share)Hi HH.
So if we just look at the boron which is all Erin had when the market cap was $80 million. EV had a 50-50 JV with EPS at the time and EV did not have the concession on the property. So now EV has 90% and likely 100% of the property with the exploration/exploitation rights on the property and with a market cap of only $15 million.
If EV had 90% of the property 5 years ago, that would have put the market cap at $144 million. That is 9.4 times the current market cap of $15 Million. That would translate to a 94 cent share price.
I would like to understand why someone would sell into the ask at 10 and 10.5 cents with the value EV has now with certainty in the boron property. Add to this the likelyhood of another company-making property like the Santa Rosa and the selling at current levels makes even less sense. Add to this $750,000 cash for Belize, the Carolina properties, VK, Yukon claims and the rationale makes even less sense.
The people that participated in the PP's know the value of EV and although some will take profits along the way, I doubt that we will have to burn through all of 5 cent PP shares on the way up.
I believe there is no where to move but up from here, Hopefully we will have some follow-up news on Panama to keep the momentum going along with some news on a JV partner. Let's see if EV can follow up with a sustained PR push and get through this rediculous resistance.