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10.5¢ burgundy diamond mines limited

OK with me if you calculate the EV that way. My point was mainly...

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JandJ

5,466 Posts.

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08/08/17

08:00

Post #: 26352147
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Originally posted by Jezzy ↑

Different Man (that was Mark O'Keefe).

Very fair point about the EV J+J. Anton has already addresed that, but was so diplomatic and conservative I thought it should be stated plainer. Its fair to subtract the $2m for the first phase of drilling from present cash reserves of $6.3M (some came in after the last quarterly). EHX must spend that. That makes present EV $4m.
If they choose to spend the next $3m on second phase, that means results would be as expected and valuation would have re rated significantly...

O'Keefe holds 17m shares in EHX through various holdings. He doesn't play for anything less than massive if you look at his record.

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OK with me if you calculate the EV that way. My point was mainly to bring the subject into focus for discussion. However if you include the full asset in your calcs and only 2 mill of the cash you are really saying you don't expect success and will probably walk away.
If you do expect success you should allocate the cash that success will require. Just IMO and the way I see it.

BDM Price at posting: 8.5¢ Sentiment: Buy Disclosure: Not Held
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Last 10.5¢		Change 0.000(0.00%)		Mkt cap ! $191.8M

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