SNM raises $ 50 millionHello Everyone,
SNM announced a Major oil discovery producing 6,300 barrels per day of oil. It has just announced the raising of $50 million at 90 cents per share. There is major interest in the preject despite their being almost 700 million shares o/s.
At close to $ 1 per share SNM carries a value of $ 700 million for 6,300 barrels of oil per day compared to a miniscule value of $ 39 million by LFD whom will be producing 5,000 barrels of oil per day in October 2011.
Doing simple math means that LFD should be trading at $ 5 per share based on 144 million shares o/s for 5,000 barrels of oil per day, which would be equivalent to SNM $ 1 per share value based on 700 million shares o/s.
Just incredible that there are sellers of LFD stock. Knowledge is Power, so while these imbeciles sell for pennies, make sure you are BUYING BUYING BUYING.
First target is $ 1 per share by June 2011.
JMHO