RE:These guys raised $17million @ .$60 roughly $90 millionmichaelvim wrote: valuation just 2 years ago. My understanding is FCX values this at approx $40 million: That means $20 million for MAX or approx $.13/share that doesn't even include the $4 million cash in the bank or $.025 /share or their other property and their recent announced acquisition, not to mention the future revs to come from the 49% or 20% of revs from Caesar. I thought this was a buy at $.15, lol. Pretty sweet opportunity down here. What am i getting wrong?
To earn an initial 51% interest, Freeport is required to fund C$20 million of exploration commitments at Cesar over five years and make staged payments to Max totalling C.8 million. Max will remain the operator of Cesar during this initial stage. Once Freeport earns its initial 51% interest/
Yup. Meanwhile MAX's shares continue to get trounced. Bids now at 5.5 cents. Now almost worthless.