RE:Hi Everyone!!!Hi AGAIN!!! I hope EVERYONE is having the BEST day!!!
I found this Stockhouse interview for Morro Bay Resources Ltd.
https://www.stockhouse.com/opinion/interviews/2014/01/28/morro-bay-v-mrb-offers-mexico-silver-upside-ground-floor-stock-price
It is wayyy PUMPY but has some information and stuff to. I do not know why they are talking soo much about El Capitan zone and not more about Jesus Maria zone. I guess people like low grade gold more than good or high grade silver??? I dont get it.
I dont know why President Director and CEO John Zang says Morro Bay Resources Ltd has low price. Relative to WHAT??? I think maybe they have low market cap of like $3.41Millions fully diluted but they only but they are also just gettin started huh??? They only paid like $1.6 Millions for the OPTION to the project witch already has like $8.5Millions spend to exploration and metallirgy and stuff.
Corprate presenation
Accretive Terms: Morro Bay is essentially paying a value of $1.6 million for the option to acquire the Peñoles Project.To date over $5.5 million has been expended by Sierra Madre on the Peñoles Project and Riverside has spent over $3 million on the Project.
Plus they only have OPTION to earn up to 65% of Penoles so ANY value they create their they have to figer only 65% COULD be theirs.
From there coprate presentation
THE OPTION: The
current owner of the Peñoles Project is Riverside Resources Inc. Under the terms of the Option Agreement with Riverside,
Morro Bay must incur exploration expenditures of $750,000 on the Peñoles Project and must pay to Riverside CAD$100,000 and US$1,250,000 in order to acquire a 51% interest in the Peñoles Project. Additional expenditures and payments entitle Morro Bay to acquire an additional 14%.
MORRO HAS THE REQUIRED CAPITAL: Morro Bay has the necessary capital in order to incur the expenditures and acquire the 51% interest in the Peñoles Project. As a result, assuming the results of the exploration program are satisfactory there are no foreseen barriers to Morro Bay acquiring at least a 51% interest in the Peñoles Project.
So $750k in 2014 exploration PLUS $100KCAD PLUS $1.250
USDMillionz to get 51% is total of about $2.1Millions. The Stockhouse article about President director and CEO John Zang he says they have $2.5Millions in cash. That doez NOT leave much room for expenses and salaries and falling Canadian dollar to pay the salaries and stuff. So they will probabily haveto raise cash in not to long huh??? Maybe by end of the year huh???
Thing Is their is the shares given to Sierra Madre and Sierra Madre is going to dividenened them to its shareholders but the HOLD on most of those shares for only 4 monthz. 16 Million shares is like HALF of the Morro Bay shares fully diluted!!!
from corprate presentation
Acquisition Terms: Morro Bay’s acquisition cost is $1.6 million paid entirely by Morro Bay securities. Morro Bay has agreed to deliver to Sierra Madre 16 million Morro Bay Shares and
Holds on Share Consideration: Sierra Madre intends to dividend to its shareholders the Morro Bay shares and warrants received. All of these shares will be subject to a four month hold period. In addition the directors and officers of Sierra Madre and Riverside have agreed to a contractual escrow to December 31, 2014 of the Morro Bay shares received by them. A total of 3.66 million shares will be escrowed pursuant to these agreements.
I dunno!!! This is is going to be intristing to watch huh???
Have the BEST DAY EVERYONE!!!!!!!!!!!!!!!!!!! YEAH!!!!!!!!!!! ^_^