cvy valuation, page-2

ron,

Looks good...

There seems to also be 10m 30c options ex 2013
and regarding cash on hand, much of the $10m raised will be spent on acquiring cameron lake...so how much cash will they have post cameron lake purchase and drilling?...still researching..

excerpt from recent presso...

􀂃 Raising $10 million at $0.22 per share
􀂃 Funds raised will be used for:
Completion of Acquisition of Cameron Lake Gold Project
$6,000,000
15?]20,000 metre drilling program (Cameron Lake) $2,800,000
Mining feasibility studies (Cameron Lake) $360,000
Mine Permitting $200,000
Expenses of the Placement $640,000
TOTAL $10,000,000

􀂃 Capital structure on completion of the Placement and Cameron Lake Acquisition:
No. Shares
Shares Currently on Issue 69,478,528
Shares issued in $10 million Placement 45,454,545
Shares issued to acquire the Cameron Lake Gold Project 12,000,000

Options:
􀂃 20.2 million options exercisable at 20 cents (expiring April 2013) and
Total Shares on Issue 126,933,073
􀂃 10 million options exercisable at 30 cents (expiring January 2013)