RE:RE:RE:RE:RE:RE:Gold Rush
Let all think about this rationally. F&M buy properties for pennies on the dollar that have potential to become mines. These projects are positioned to advance and eventually tend to be aquired after they use their expertise to advance and unlock shareholder value. This mine in particular as we all know has approx 11 million ounces of gold without any additional ounces announced from Stanja. This makes tje Rovina project one that has the potential to be the second largest deposit in Europe. Further to that Stanja may hold several million additional ounces of gold and pounds of copper at a higher grades tjan Rovina from what i have read. Just the 11 million ounces without any additional ounces announced from Stanja makes this project worth billions of dollars to a major looking to add ounces to their own portfolios. Note this also does not assign any value to the massive copper deposit that is in samples of this mine. The major hurdle here is ratification. It is time consuming and something a major would rather not deal with if the can buy a project as massive as this that is ready to move forward and do what they do best... mine. That said 285million is chump change and F&M are not fools and know the value of this project once ratification is in place. Make no mistake the majors are waiting in the wings for this project to be ratified. Once ratification is complete the true shareholder value will be realized. Remember there are only 57million shares outstanding. The majors will bid this thing up to a reasonable value as even 1 billion market cap would be 10 to 20 times less than the current value of this monster once calculating value of Stanja and copper deposits in addition to the 11 million ounces already at Rovina. My prediction is a buyout in thr 12 to 17 dollar range. Possibly more tjan one major will be bidding to aquire these ounces considering the steady depletion of existing mine around the world and the current gold and copper prices that are surely to rise in the current world economic environment