GREY:VITFF - Post by User
Comment by
velcro1on May 16, 2013 5:34pm
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Post# 21405468
RE: Shares o/s
RE: Shares o/s Careful what you wish for because you never know you just might get it. If management is considering using equity for some type of component to fund the Eagle property to production in the future. That would be about the only way they could do it without seriously diluting shareholders anymore than they already have been. And if that were to happen that probably wouldn't make them too many friends. Unless they were to do it at $1 or something like that, but that seems a long way off at this point.
Personally I would be just as happy if this crew would stop talking about putting this project into production themselves. And just use the money they have to advance to this project from the 2 million proven ounces it currently has to 5 million ounces proven. And sell the company to the to the highest bidder. That is really the only solution that makes sense to me as far as I can see.
Using a rough back of the envelop calculation:
If we were to use $100 an ounce for in the ground reserves. With 2.3 million ounces proven we would probably be worth $0.60 - $0.75 in my estimation. Big deal I say!
With 5 million proven ounces I would guesstimate a valuation in the market somewhere north of $1.25.
What I do strongly believe is that in the future shareholders can ill afford to be diluted down any more than we have been to this point.