RE:Dilution Great analysis ,Sweepy --thanks
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Not sure if I understand your perspective when you make this statement
if you are a shareholder of ESM then you should be concerned that this Company will be sold at a value below $1.27 per share.
I get that this is the share price when they took control but why sell below this price. I know they have made good salaries along the way but why not try and maximize a return .
Is it simply to get out quickly and move on to some other company and fleece some new investors or is that ireally all this project is worth on the market ?( approx 20.00/ oz )
In an earlier post , about two weeks ago ,I referenced an article that suggested the average value for gold in the ground was about 62.00/ oz . Granted , I don't think we will get that but if we are worth only 5o% of that we should fetch (30 /oz x 10 mil oz =300 mil/ 163 mil shares= 1.84/ share as a buyout price . Keeping in mind that gold price now is well over 1500/0z and that seems to be a reasonable expectation for the next few years ..
of course , I am assuming that there will be no more significant dilution,the FS and permitting will be completed wthin a year and this project will be sold by summer 2021.
What am I missing ?????