seadoc schreef op 4 januari 2012 19:25:
@ smith: om je een beetje op te vrolijken, voor wat het waard is natuurlijk (bron stockhouse):
Looks like a lot of the warrants won't end up getting exercised which should lower the fully diluted share count closer to the 250 - 270 million range (including shares issue in recent placement for $8 million).
MTO is currently preparing their bulk sample to ramp up production this year and is worth based on fully diluted shares less than 2 times what their cash flows will be for next year.
260 M f/d shares @ 0.31 = $81 million dollars (-) $10 M in cash = $71 M dollars
2012 Production: 50,000 ozs for the year
Metanor's share (80%) = 40,000 ozs per year
40,000 ozs per year @ $470 cash costs @ $1,650 gold = $47 M dollars in cash-flow next year
After taxes closer to $40 M dollars of cash-flow for next year.
Metanor also currently has over 22 M warrants priced between
.65 cents to $1.00 which will likely not be exercised for quite some time which lends itself to a lower market capitalization given the smaller share structure.
This is also assuming 0 value for Metanor's Barry deposit which has almost 1 million ounces of open-pit gold and over 100 IP anomalies to be drilled this year.
MTO is my favourite gold producer of 2012 and my second largest gold holding.