OTCPK:MEAOD - Post by User
Comment by
miketrikeon Dec 04, 2012 10:15pm
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Post# 20684257
"since mill is worth $ 200 million"
"since mill is worth $ 200 million" I don't think you can correlate the replacement value of Bachelor Lake Mill to what Metanor's market cap should be. If Bachelor Lake Mine cannot be mined profitably then the mill is worth very little. The debentures are secured by the Mill and probably Sandstorm has some kind of lien on it as well. If Bachelor Lake cannot become profitable then the company will go the way of Alexis and dilute, dilute, dilute until the eventual rollback/name change. The company has to become profitable NOW or the chances of any gains by current shareholders are nil.