TSXV:INCA.H - Post by User
Post by
banterboyon Feb 23, 2012 2:24pm
118 Views
Post# 19574926
Worth posting again
Worth posting again
2/22/2012 8:14:01 PM | | 77 reads | Post #30707489
clarity
credibility
In 1996, Sulliden raised $5 million at $1.85 per unit (Sulliden had about 11 million shares o/s then) to explore Las Huaquillas... The price of gold was about $400/Oz in 1996... That raise was before the initial exploration effort at Las Huaquillas which was extremely successful...(Sulliden anual report 1997-98). However, social unrest in northern Peru mainly associated with the Tambo Grande project resulted in Sulliden surrendering the project in 1999. This is an easy One... The property has proven world class potential... If IO's management can get the support of the population (and it looks like they are...) and get the permits... Bingo! As far as the share price goes, if Sulliden was able to raise money @ $1.85/sh. in 1996 at $400 gold (before finding most of what is now known of the potential of this property and tripling the reserve estimate), I think that this stock has to be extremely undervalued at
.40... Don't you?
orepass