Transatlantic Mining TCO.v I've been buying this stock for almost 3 months. It's my largest position by a fair amount, which I'm not prepared to brag about just yet.
This is a new mgmt team and a new project. The gold price has bounced from about $1,100/oz to $1,330/oz since the time that management negotiated their newest play -- the US Grant Mine & Mill in Montana.
Pro forma for a 50 million share placement at 5c, the new outstanding share count will be 186.3 million. That's a large # of shares, but the market cap is C$11 million = US$ 8.6 million. Management's stated goal is to (initially) produce at an annual run-rate of 20,000 gold equivalent ounces by next year.
The key of course is whether that means by 1q 2017 or 4q 2017. I'm assuming that they might reach a run-rate of 20k gold equivalent ounces within 1 year.
20k ounces may not sound like much, but at a US$500/oz margin, that would be US$ 10 million in free cash flow for a company with a US$ 8.6mm pro forma market cap....
That means In a year or less, the Company could have an Enterprise Value of zero (Market cap + debt - cash). An EV of zero and probably more than 20k ounces planned 2 years out, (from July 2017-2018). YTD, hundreds of gold juniors have literally doubled, tripled, quadrupled, quintupled.... yet this pig is down 33% from the date shares were reinstated, April 12, 2016.
I don't have all the answers here, but if something is going to happen to the share price, a big move from the 5c-6c range, I'm guessing it's likely to happen in the next month or so. That's when a lot of the questions that shareholders have should be addressed.