RE: RE: Financials to Dec. 31, 2012 Released FB -- Nice to see someone else on this forum - welcome a-Board. FYI -- cash was in the mid $0.60s-cent / share range as of December 31st (total of about ~$14,000,000 and about 21,500,000 shares outstanding). Since CRG doesn't actually own any properties, it only expends a minimal amount of cash on managing its portfolio of investments.
Last couple of weeks, CRG re-purchased roughly 20,000 of its own shares. The terms of their share buyback limit them to about 4,500 shares / day so anyone selling down here at these low prices might want to factor that into their buy/sell decision. Also, there is a distinct possibility that someone is just selling shares back and forth to themselves to make it appear the price is going lower... there's actually no shares at the 'ask' for these low prices. If there was I might consider adding a few more myself.
Now for the gruesome news: Assuming current holding were the same as reported Dec. 31st, the value of this investment portfolio of junior resource stocks is now estimated to be about $6,400,000 as of April 19, 2013. This works out to $0.30 cents / share.
What is odd here... the market seems to be assigning a value of $0.00 for the junior intestment portfolio (I can see some logic in that assumption but in reality these thing are worth something unless ALL juniors are going extinct!). This then makes CRG's cash worth negative -$0.12 cents / share if one uses a somewhat conservative value of $0.60 cash / share and today's stock price of $0.48 / share.
My recommendation to the Board at their June annual meeting is to pay out a $0.60 cent / share special dividend. We'd still be left with $0.30 / share in rotten juniors and a couple cents / share in cash for management to keep the lights on. If you agree, call them (416 482-9038) or send them an email message (info@coronagold.ca).