LME -- How many shares outstanding?
posted on
Dec 08, 2007 09:43AM
In the Nov. 16 announcement of its last private placement during November, Laurion states at the top of the release:
"Issued and Outstanding 40,778,383 Common Shares."
Here is what I think they mean:
They had 41 mm shares PRIOR to the PP. The PP has the effect of issuing 15.7 mm plus 6.9 mm.
So now Laurion has 63.6 mm shares out. Anybody differ?
I do not think the exact amount is that important, but I certainly think there is a big diff between a stock with 40 mm shs and one with 64 mm. (50 percent dilution).
I like this stock, by the way, and just bought more last week.
I thnk it is a sweet area play on Beardmore-Geraldton.
Even if there are 64 mm shares out, the price of 18 cents apiece gives you a market cap of just c$11.5 mm or so.
Much easier, actually, for Laurion to move from under 20 cents to a buck than for big daddy Kodiak to move from $5.00 to $25.00. I do think Kodiak is a great stock too. It is just that I want some higher leverage stuff as well.
As Beardmore plays, I now own Kodiak, Premier Gold (70 percent control of Roxmark claims), and Alto Ventures.
Michael
