OTCPK:MEAOD - Post by User
Comment by
mstettleron Oct 23, 2016 11:23am
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Post# 25375560
RE:RE:One extreme undervalued gold produce - GCM.TO
RE:RE:One extreme undervalued gold produce - GCM.TOJRaffles wrote: I may be better to reverse back into MTO:-
- GCM production and grade OK
- Location would be better in British Columbia
- $100m in 2020 6% gold notes convertible at 13c - todays price 12c
- Dilution from 277m shares to 1,448m per presentation [500%]
For the above reasons the gold note holders have a stranglehold on the company and issued shareholders.
That is why GCM has a 32 million market cap. If they had no debt they would trade 10-20 times higher.
MUX is not in safer jurisdictions, has half the resource, higher costs, similar production and has a market cap 47 times higher at 1.5 billion.