Whether it is milarky or not that Osmose is waiting on a $200 million dollar infusion(sounds like milarky to me), they have been able to buy a lot of time and moved their position a lot closer to Serbian deadlines now. It also gives them a chance to de-risk their $3.5M PP investment by maybe seeing if we are going to get out Certificate of Reserves before ante-ing up the risky chunk of money. If BONE management is keen on the deal, maybe they give off vibes of it being given, and/or maybe they have their contacts in Serbia that can give them a wink when approved?? At this rate maybe a smarter idea paying .30/share (if BONE's price goes up) and having the certainty of the governmental approval. At this point I don't blame them. Where the hey hey is the Certificate???
From my view point they are getting 40% of a project that generates an average of $120M/year, for about $30M, and a cheap slightly risk, or medium priced de-risked PP. Their $32M ($22M Euro) investment, equates to about .44/share by my math ($80M/180M shares). That's not today's valuation, that's after we have a mining licence and are in the process of starting up the mine. Does anyone thing our shares will be worth .44/share in 3 months if we have a mining licence in hand? Do people believe Tim when he says getting financing for building the mine is the biggest risk going forward? They weren't saying that years ago. I think if you have a mining licence it should be pretty easy to raise that kind of money. Tim implied there are people lined up around the corner to partner with us.
I could go on, but let's think about what our share value would be if we stuck it out a little longer. Let's say we did another PP for 10M shares. That gets us another $500grand and somewhere around 225 million shares and warrants outstanding. (Very approximate). Warrant holders will cash in all warrants if share price rockets and holds. That should get us another $1.5M cash. So now $130/future income divided by 225M shares, mining licence in hand. That .57/share income every year. What are your .05 shares worth then? $1, $2, $5.70??? I'd say $2 now and $5 in 2 years, but that's just me. So Osmose gets to parashute in and pay .44/share after most risk gone?? I'm going to have to vote no on that one big guy!
It's July, things should be decided by end of September, let's say 3 month. We've endured years if not decades of pain and suffering. Don't we think we can endure 3 more months. Tim even said, this is the exciting time! And of course Osmose will cough up $22M Euros when it's all gravy after. What about this, how about after our pathetic share price of .05 goes to $1, maybe those long suffering shareholders might get a check and the lucrative chunk of investment? I'm a little fish, but if you get to $1, I will write you a check for a million, no problemo!!! If Osmose wants in, there is an open market with which they can start buying us right now on like us. Maybe Tim should quit taking the easy way out all the time. One last question, if this gets busy over here at Boron One, is Tim going to give up his other job?? I can see have two 6-figure salaries while he has next to nothing to do, but what if it gets busy. Or what if the knock off Apple Watches take off?
Anyway, I vote no to Osmose, and I would like another update from Tim, and then again in a month, and then in another month. Kind of an important time, no??
(I'm not proof reading this as it's my hobby and not my job. Sorry for typos and grammar as always. I hope to stir up some conversation at this crucial juncture.)
Have a good weekend friends!