completely undervalued.... my calculation
Best case ..all debentures will be paid back... we have a debt free company with world-class assets end of 2020 (2 high-grade mines and Marmato.. big exploration upside und further mine developement/upgrades from cashflow) ... price target: 3$++++ (appr. 150-200) million shares)
marketcap now: 17,25 million USD
worst case:
all debentures will be converted into shares... outstanding shares 1,45 billion shares... company will be debt free
marketcap at current SP price: 170 million USD
..but :cashflow until 2020 will be 200 million$+++++ , 15-20 million gold oz in the ground (Marmato deep is NOT included at the current reserve estimate and is underexplored due lack of funds available)
..both scenarios are possible.. under both scenarios this company is highly undervalued as long POG stays above 1000-1100$