Why only 19cents?A lot of investors got angry about the bank crisis. They turned this blame on management and became determined to punish management by selling cheaply. Management is good at mining, identifying economic deposits, getting permits, organizing hauling, making deals with large companies, ie Xstrata, getting cheap financing to get the mine going. ie Auramet at 5% secured line of credit, making big profits, ie 850,000 before taxes last quarter.
They've done it all with minimal dilution over a very depressing period for the company. The one thing management couldn't do was convince people that bought higher that they were not wrong to buy higher. So the angry people sold, and continue to sell, keeping us here at 19 cents. Punishing themselves mostly and rewarding those of us that see, and continue to see the incredible value of a 2 times FCF ratio.
When the angry people are gone, so will the low valuation. Way to go Richard!
PS. With copper going the way it is this company will have way more revenue next quarter than market cap at current prices.
The cupricity 1 year price targe: .55 cents. Which is equal to a market cap of 40 million. Which is equal to 8 times net earnings at todays metal prices. Which is equal to about 10% of NPV10% on the permitted, feasibilty completed shakespeare mine.
Note my target is only valid with Nickel at 10 bucks copper at and no increase in reserves, or discoveries from Offsets or Shakespeare drilling.