RE:RE:Kenorland StudySo this morning I noticed that the company has produced an updated Corp Presentation. It is current as of October 2022. Within the presentation was the outstanding fully diluted share count of 252 million shares. Thought I should update my calculation of per share value. My previous calculation usde 204m outstanding shares. So $750 m insitu divided by 252m shares equates to $2.97 per share.
Further, I noted that the trans Canada Highway runs right through the Moosehead property and a hydro sub station is only 4 km away. For perspective only, typically a high voltage line will use poles spaced approximately 75m apart.. So 4000m/75m equates to approx. 53 poles assuming the route has no existing power line. A metro area is noted to be a 1 hour drive away from the property. All of this to say that the needed infrastructure to build and support a mine is extremely good so I have no problem using a 10% insitu rate of return.
Our per share value today of 22 cents implies we are valued at less than 1% insitu value. The presentation also points out that Mr Sprott owns 28% of the fully diluted shares as of last month. He remains committed so I will continue to pick up small amounts of shares as they become available.
This stock is a screaming buy!
Muff