GREY:CPYCF - Post by User
Post by
chinstrapon Jan 16, 2011 11:06pm
416 Views
Post# 17981706
NAV - stub value of project
NAV - stub value of project
$23 mln mkt cap (63.8mln s/o X
.36).
-$15 mln value of CUM shares ($6.60/share X 2.3mln shares)
-
.8mln value of cash
-
.740 mln value of Jameson resources (7.4mln sh at
.13)
The stub value of the company project is $6.4 mln, or
.10/share. For $6.4mln investors are getting the Raven coal property and coal rights with indicated coal reserves of 72mln Tonnes , exploration permits and a drilling program that resulted in a technical pre-feasibility study that shows 800,000 T/yr production. All this translates into a project with a $120mln NPV net of its 60%JV share to CEC. Of course they need to get approvals, build, finance and produce eventually...