RE:RE:Best visual mineralization seen to dateThe deposit is valuable, but are the common shares? There's an overhang for anyone buying in today: the common shares are diluted. Looking at Q3 results, I don't see common share ROI (R=net-income, I=investor buyin) exceeding 6% without either grade or tin price going up.
Increasing LOM alone won't do it, unless AFM goes immediately on a sustained buyback spree. Cutting share count in half (at least) would be beneficial.
Cash flow vs income arguments don't work here -- current LOM is too short to ignore depletion, and any dividend must be paid out of the 6%.
Any thoughts on this? I've already taken profit, so I'm not at risk.
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figtrader wrote: It's no wonder then that one of the directors of Alphamin said Bisie has one of if not the most valuable metallic reserves of any mine in the world right now (esp given the price of tin right now and going forward)