I am amazed that this stock can be bought at this level -- less than $200 million market cap for a property or rather a set of properties that the majors are undoubtedly drooling over.
i am pretty sure this company has the best gold discovery of this cycle, outside of the one in ecuador where the government has stepped in, halted work, and is renegotiating the terms with rightful owner (aurelian aru.to).
if anybody knows other discoveries that might be in this league, please tell me so i can buy their stock.
kxl has 88 mm shares, they are being given away for two bucks a share, and so we multiply that out and see that the company has a market capitalization of $176 million at the moment. Even at $5, which would put the market cap at $440 million, this stock would be a decent value, given what we already know about the property. At under $200 million? A steal.
i figure they've still got $40 million in cash. that leaves $136 million in market cap for the actual properties plus the great geo team they have assembled.
I bought more today. I want to thank whoever chose to dump this fine little gold stock this week.
Michael