Monster Lake QIT did a private placement at 15 cents more than a year ago;
then received 4 MM shares of Perisson and $300,000 cash as a break up fee
then QIT took an option in Monster Lake in December 2012
with a 1,647,000 shares private placement at 15 cents again;
then the Monster Lake discovery in February 2013;
Now we're witnessing insanity with the stock trading back at 16,5 cents today;
Let's face it : shares of Perisson worth $800,000 ( 20 cents bid)
Ok lets put them at 10 cents for the analysis , that is $400,000
add to that cash on hands in QIT bank account roughly $500,000
Now what is the value of the Monster Lake option ?
Toma drilled 5,000 meters and circled probably 500,000 gold ounces
Their option probably worth north of 2 MM$
So Quinto's value is probably at least 3 MM$
with a total outstanding 12,100,000 shares (including the conv debt)
it means a ground value of 25 cents a share.
Today , it traded like if it was still a shell.
Quinto has no salary to pay, no rent, nothing to pay but exploration expenses
on Monster Lake to earn in their stake.
And they wont give away their treasure with some silly dilution, believe me.