Down 25% to the penny...
from the day they made their bid for RMC. It closed at $3.68 US on friday 4/22. Bid was made public on Sunday 4/24. Cap down to $825 million or $585 million minus cash. Very, very undervalued. Wish I had more cash here but have to wait until early Nov to buy my last 5k shares. Hope she stays around here or lower until then. If these guys give Bisha away for let's say $600 million US to the Chinese this stock would "go through the roof" as a fellow poster here has told me. Bisha is a jewel and I bet several private companies would love to have it at the right price. Imagine having about $800 million in cash, being totally derisked from Eritrea and having one of the best undeveloped projects in Timok in the world. Yes our cashflow would stop but we would have more than enough to prove up Timok and eventually sell or dig up the top zone (which would pay for itself in .6 years). Yes it is that rich in grade. In just ovet half a year it pays for its development costs. Any thoughts?