GREY:BYVVF - Post by User
Comment by
valuekingon Oct 13, 2010 9:18am
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Post# 17557562
RE: RE: 190,000 for sale at 1.01
RE: RE: 190,000 for sale at 1.01The bottom line is that this company's total market cap is currently about $40m, despite the fact there is a very high likelihood that Rainy River's 5m (current and growing) gold reserve continues onto byv's lands. The company has confirmed this with initial drilling and we are set to see further confirmation with the massive drill program underway that will reassure people that byv indeed has a large gold find itself.
The bottom line is that this company is currently worth only about $40m, yet knowledeable institutional investors are prepared to commit $5m at a price of $1.40 per share, compared to the current market price of only $1.00. In my view, this alone is reason for the share price to be about 40% higher than where it is currently, and that is why I'm long.