RE: CEC investmentPCY bought 5,000,000 shares of CEC at
.35 per share.
PCY bought 36,615,385 shares of Victory Nickel at
.104 per share.
NKL bought the metal assets of PCY (ie: Wellgreen and Lynn Lake) at a cost of 450 M shares. PCY proposes to spin off approx 1/2 of these shares to current shareholders that exclude option holders or approx 214,653,000 shares thus retaining a investment in NKL of approx 235,247,000 shares (23,524,700 post a 10 to 1 reverse stock split).
Investment Portfolio:
5,000,000 CEC currently worth approx $2,850,000 per last trade of
.57 CDN.
36,615,385 NI currently worth approx $4,028,000 per last trade of
.11 CDN.
235,247,000 NKL currently worth approx $34,932,000 per last trade of
.145 CDN.
Total Investment Portfolio Value: approx $41,810,000
PCY has 237,304,020 shares outstanding on a fully diluted basis and or a market capitalization value of approx $234,932,000 based on a closing price of
.99 CDN. $234,932,000 minus investments of $41,810,000 equates to an adjusted stock price of approx
.81 CDN per share.
.81 per share is the approx costs per share to buy the coal assets of Ulaan Ovoo and Chandgana.