London, page-2

Hey @1982,
I agree this stock appears to be undervalued, particularly against BMV. I'm interested in what value you attribute to the stock today. And again in 2 years time if their production plans come to fruition.

They have today;
>$$dollars in the bank but these are all spent so i find it hard to trust any "enterprise value" statements.
>Cannon UG - All $$ generated will be spent in Korea.


Future.
>Cannon Deeps ??? have to write this to zero at this stage.
>Gubong. 50% of ??? 15,000 oz/pa we should know more in September.
>Kochang 50% of ??? 15,000 oz/pa we should know more in September.
>Korea tenements. Epithermal drill targets. ?? Drilling now, soon? We should have results by June/July??? Have to write this to zero at this stage.
>Other Oz tenements appear to be a bust.


I can't see why it's worth much at all today. Like hundreds of other stocks it has "potential" to be worth something in a couple of years.
I guess it comes down to getting in early if you believe they will get to 30,000 ounces ($15m profit pa x 50%sau, 50% bmv) then it all looks rosy. $50m mkt cap?
However i can't see them making it to that point without generating some more development and operating cash from somewhere.

I hold and am interested in your thoughts
Thanks in advance.