Updated: Tigris Value
Yesterday 9,902,207 in cash in latest filing, and payments done and for the new acquisitions of yesterday would make it 9,422,061 in the treasury today. None of the resources taken in via the acquisitions are classified but the numbers available make it 3.1 mm lbs of U3O8. Paying 480,146 for this makes it at around 15c/lb of U3O8. I'll willfully ignore the 200,000 common shares issued for payment.
Valuing Tigris 34.5 mm lbs of uranium at 15c/lb would create a value of 5,175,000 million. Not a fair valuation as those are classified as indicated rsources and the 15c/lb acquisition is not. Adding the 9,422,061 in cash equals 14,597,061. Dividing it by the number of shares 59,490,272, according to the latest filing, and adding on the 200,000 shares issues for acquisition to get 59,690,272 shares, leads to a value per share of 0.245 CAD. Including the new 3.1 mm lbs of U3O8 and the value is rounded up to 0.255 CAD. At the price 15c/lb of U3O8.
The updated cash-value per the new acquisitions is rounded up to at 16 cents per share. 2,750,000 shares were paid in May to make good on the lower-royalty deal. Perhaps some of those shares are what's putting pressure on the market. September 15th, 390,000 shares were reported shorted. It takes a lot of confidence to sit in a short-position at these levels. I'd do it myself only if I knew I held on enough shares to drive the price down. In summary, we're getting no premium for uranium or management, and we're getting shorted the #### out of us and the game continues until somebody starts buying big.