RE:RE:FYIWith the near surface high grades they are finding, they would be better off mining themselves... it states in note 7 of the financials that if Goldcorp refuses to make further payments under the JV agreement that they stand to lose a portion of their interest... it does not specifically state by what amount but I am assuming it will be proportiate to their share of total costs contributed to the JV.
Based on where the share prices is... SO UNDERVALUED.... I would like to see Temex get some quick cash from Whitney through open pit operations... and finance themselves internally as much as they can going forward to develop Juby where I think the big potential truly is in terms of total oz of gold.
If Temex were bought outright... their buyer would get a crazy deal. Market Cap$/oz is way low... This company should be much higher.... especially if the next resource estimate totals 5-6 Million Oz....FYI Rainy River which was recently acquired by New Gold had 8.2Million Oz in reserve and traded in the $3.50 range.
With the recent bottom in the price... and the higher than historic share volumes, finally big investors are taking notice... expect a slow but steady rise to flush out the speculators and day traders who have created the pricing mess Temex is in.