RE:At .40 RNC Minerals is valued at $256 Million BillionaireB,
The 640Ms mentioned in your post is the
fully diluted number of shares (FD) which include all wts, options and others. Currently, here are the numbers
- OS: 562Ms before the 45Ms PP
- OS: 607Ms after closing of the above PP
- FD: add wt, options (quite a few options, have not checked the exercise price, but this would bring in a few $M). The Seeking Alpha article in a previous post has some numbers for wts and options.
At any rate, $1.5/s bought out price may be acceptable to some here, but depending on their luck...if they hit another FDV, or some reasonable-grade (say 50 -100 gpt) coarse gold from level 16 (GTV grade 120,000 gpt) to underneath FDV (FDV grade 5000 gpt) including the area around hole AZ15-013 (grade 1406 gpt) in the A-Zone, there would be a bidding war for RNX...How about $3.00/share?
Note that, the WF is much larger than the A-Zone and has quite a few drill holes that have excellent (bonanza) grades, but the talks have been on the A-Zone since that was where the boulder specimens were found, and that saved RNX from bankruptcy.
GH11
-----------------------------------
BillionaireBoy wrote: with 640 million shares outstanding. For the massive dilution over the past year the company has obtained the Higginsville Plant and operations, their land holdings and has proven up to 1 million ounces of reserves around the Fathers Day vein and the Western Flanks. During this time period the price of Gold has moved up to over $1500 per ounce. With increasing commodity prices and a fall in the price of the US $ things are looking up. If the company can increase production from Baloo and Beta Hunt then everything may come together at the perfect time. I can see this company eventually being bought out for $1 Billion which is approximately $1.50 per share based on the current number of shares outstanding! GLTA RNC Longs.