Banca I.F.I.S Spa BNCIF

17Digger - for you... I want your opinion...

[newsimon1707]

I was thinking about your calculation... do you think it would help people understand more that they won't get their 0,20$ per shares if we use CSK as a basis for the float of the futur company?

Like someone mentionned to me, he will get his 0,2632 shares of FCC no matter what the float is... so as long as FCC opens at 0,75$ he's in the money...  I think people will understand more if we use CSK's numbers of shares... so it's your table, but the other way around... because the only thing we know for sure, is that we will get 0,2632 shares for every CSK shares we get...

So, 86 million shares of CSK gives 22,6 million shares of FCC...that is gonna represent 11% of the total float of the new FCC according to the interview he gave yesterday on BNN...

If 11% is 22,6 million shares, means 100% of the float is gonna be 206 million shares approx...

FCC current shareholders will have 36% of 206 million shares== gives 74 million shares, so instead of keeping their numbers of shares, they will probably receive a bit more shares... around 45% of what they have already...

Cobalt one holder will have 53% 109,1 million shares...

So if you use the valuation of 120 million of market caps he used... those aren't my words guys... and it's not my percentage of ownership... it's what the CEO said on TV...so you better believe what I am writing!... So 120 millions divide by 206 million shares... gives 0,58$ per shares... now... divide that number by 4... because we approximatively get 1 FCC shares for every CSK shares we have... gives you 0,145$ per current CSK shares... what are we trading at again?? Same number I gave you earlier

It's another way of showing you guys the effect of dillution... yes we get 0,2632 shares for every CSK shares we have... but how many shares will there be total after all those deals are inked?

[17Digger]

Look at the merger problem this way The market is valuing CSK at about 14 1/2 cents a share. A hair more than 4 shares of CSK will get you 1 share of the new amalgamated FCC stock. That means the market is now valuing the new FCC stock at about 4 x 14 1/2  = approx. 58 cents a share instead of its last traded value of 76 cents. At this point, if the maket is right, FCC is set to fall about

[really2]

Intereting analysis. The question then should be ,why on earth would Mr. CEO(Bruce) agree to such a deal. Where does his allegiance lie? In this case it seems he is harming the share value. If CSK is genuine in having the only permits and potential  stockpiles that are economic then why give it away? Add the lawsuit in the mix then CSK should be in the drivers seat. Something smells fishy

[newsimon1707]

17Digger, check your inbox. I am glad you are starting to look clear here... I will adjust a bit once again what you wrote. MC of the new company according to FCC's CEO:  120 million. CO1 % of ownership of the new company, 53%X120 million = 63,6 million $ market cap in the new company.  Current value of the company, they have 566 millions shares, average price of ,115$ in the last