Mountain Lake Resources Inc V.MOA

Market Cap 3.9 million

[Loopae]

Was just rereading the past news release.

In November, 2008, Mountain Lake exercised its right to convert$2-millionworth of interest-bearing convertible notes. The notes boreinterest at 7 per cent per year and were convertible into one millioncommon sharesof Etruscan Diamonds, a corporation incorporated under the federal lawsofCanada in which the company holds a minority interest, at a conversionprice of $2 per share of Etruscan Diamonds. All accrued interest hasnow been paid and the one million shares of Etruscan Diamonds have beendelivered to the noteholders. The company owns an additional 4.35million shares of Etruscan Diamonds, all of which are unencumbered.

Have I got this right?

MOA owns 4.35 million share of Etruscan DIamonds with each share valued at $2, so total worth of $8.70 million, more than double our current market cap?

Then 30% of about 443,000 ounces of Gold at Valentine Lake and growing. Say $200 an ounce conservatively = $26 million more than 6 times our current market cap?

Not even bringing Bobby's pond into the equation we are already at $1.30 a share.

I'm getting sick, I think I'm about to puke, someone get me a bucket....

[PhaTCaT007]

Bought a small position today of only 3000 shares for the long run. Took some profit from La Mancha which has done very well and got me some free shares of this one.From the latest news release, this company is positions for increadible thing in 2009, espescially in an environment of increaing gold price such as now.Go inflation go. Go Juniors Go. PhaTCaT

[Cousin_Gert]

Agree. So many good companies fell along with all the others. Time for a turn. A $4MM market cap for MOA is ridiculous. Everyone I believe sees this, but as usual most wait for others to move first. Poor logic, as it is those first who act on what they believe, who make the best returns.  Picking off a few shares early is the best approach on companies who are on sound financial footings with