RE:An addendum to PP posted just now headline is bit misleading
i think Cayden has just graduated to the big leagues. quite sure this has gotten the attention of GG (market cap $22.00 Billion or about 240 times the size of Cayden, fully diluted, see below how I arrive at $92 million market cap with $15 million net cash)
math
41,609,127 at 1.72 = 71.57 million
4,042,500 options at 1.74 avg = (potential 7.03 million in cash)
2,802,500 warrants at 1.50 = (potential 4.20 million in cash)
Today's shares, 4,610,000 shares at 1.70 = 7.84 million in cash
Today's potential overallotment = 691,500 shares at 1.70 = (potential 1.18 million in cash)
Underwriters get 7% of todays proceeds, so fully exercised will be 0.07 x 9,012,550 or 631,879 cash outlays
3% warrants will be 4,610,000 plus 691,500 is 159,045 warrants at 1.70 or potential 270,377 in cash
so to summarize:
53,914,672 shares fully diluted, with $26.89 million in cash, assuming $7 in the treasury now and all of the above occurring in theory.
now of course for EB I they owe 1.5 million in April, 2.0 million in Oct, and final payment in April 2015 of 2.5 million. all of these are plus 16% VAT, or an additionally $960K. so call it $7 million. they also owe 75k for EB II down the road, as well as $5 million in June 2017...
so all together fully diluted is essentially 54 million shares with $27 million in cash, minus $12 million owed in the future, for a net of $15 million.
54 million x 1.70 = 91.8 million market cap
(the only other loose end is the small amount of shares owed to the El Barqueno middleman and I think those are priced at $1.68? oh one more thing is Las Calles, that piece of land that might hold 2,000,000 ounces itself and also be preventing GG from getting at more ounces due to pit geometry at Los Filos, Los Filos pit being the same pit that David Jones discovered, the same David Jones that is on Cayden's board.......of course Los Filos is the largest producing pit in Mexico and GG is the second-largest gold company on the planet, on the heels of Barrick)