bigdog
Retired many years ago
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chris1983 what are your thoughts?
I read the report yesterday and inclined like rwkni1
ADS looks interesting up 4 cents to 20.5 today
I read the report yesterday and inclined like rwkni1
ADS looks interesting up 4 cents to 20.5 today
CanOz
Home runs feel good, but base hits pay bills!
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Check out the weekly, monthly and yearly charts...bizarre.
CanOz said:
Yeah, i still haven't had time to do much research into these guys, but from what i can see it looks as though they were some kind of biotech operation before management changed and they got their hands on these tenements in Saudi. Looks a bit suspect but I took out a position anyway for a roll of the dice. 122m grading 2.7% is still a very nice first assay. Also, volumes have been huge, about 50% of the free float has been turned over this week.
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Guys don't shoot the messenger on this one but a quick look around showed me the following
1. ADS has 185m shares + 40m convertible shares + 15m 20c opies + 130m 5c opies
So at prices above 20c Fully Dilluted shares = 370m
Mkt Cap at 25c = $92.5m
2. Has anyone looked at the maze of ownership/interests?
ADS has the option to convert a loan into 25% ownership of VERTEX
VERTEX holds 70% of BARIQ
BARIQ is earning 50% in the Jabal Sayid deposit
So ADS indeirectly has the option to acquire a 0.25x0.7x0.5 = 8.75% interest
Again don't shoot the messenger I could be wrong as I only looked very very briefly but unless someone can give figures to the contrary
An 8.75% interest in a POSSIBLE Rocklands type deposit shouldn't give a company a mkt cap of $100m
Thoughts?
1. ADS has 185m shares + 40m convertible shares + 15m 20c opies + 130m 5c opies
So at prices above 20c Fully Dilluted shares = 370m
Mkt Cap at 25c = $92.5m
2. Has anyone looked at the maze of ownership/interests?
ADS has the option to convert a loan into 25% ownership of VERTEX
VERTEX holds 70% of BARIQ
BARIQ is earning 50% in the Jabal Sayid deposit
So ADS indeirectly has the option to acquire a 0.25x0.7x0.5 = 8.75% interest
Again don't shoot the messenger I could be wrong as I only looked very very briefly but unless someone can give figures to the contrary
An 8.75% interest in a POSSIBLE Rocklands type deposit shouldn't give a company a mkt cap of $100m
Thoughts?
YOUNG_TRADER said:
Wow, i never bothered to do the calcs but that makes sense. Based on that info i'm surprised it even made it to a mkt cap of 50m undiluted - this thing has had some serious momentum. I just skimmed through some of their releases after seeing those comments I noted they highlight that they have been granted "the first and last right of refusal to engage in negotiations to acquire a greater interest in Vertex". Now, that's hardly clear to me, but it seems to be suggesting that they may have the option to increase their stake in Vertex. Either way, this hole operation looks fishy - i've been thinking about taking a profit for a couple of days now but have been encouraged by the huge turnover. Management certainly has made very little effort to disclose in a clear manner exactly what their interest in Jabal Sayid is, but have been happy to boast about the spectacular drill results. I think i'll be bailing on Monday.....
the deposit is likely to be at least twice the size of CDU's rocklands deposit.
apart from that ADS has an interest in 6 other tenements that are highly prospective - in this instance Bariq has a 100% interest - which would essentially double ADS's share
apart from that ADS has an interest in 6 other tenements that are highly prospective - in this instance Bariq has a 100% interest - which would essentially double ADS's share
Pretty amazing results, no doubt this will move quickly.
I still have concerns about their ownership, or lack there of, in Jabal Sayid.
Still, if they keep pulling numbers like this momentum should play its part and push it much higher. Imijaca, what sort of price are you expecting following these results? I've got a feeling it will overshoot in the next couple of days providing a good exit opportunity....
I still have concerns about their ownership, or lack there of, in Jabal Sayid.
Still, if they keep pulling numbers like this momentum should play its part and push it much higher. Imijaca, what sort of price are you expecting following these results? I've got a feeling it will overshoot in the next couple of days providing a good exit opportunity....
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I agree they are insane,
But I'm still not sure about a $100m mkt cap for a 8-9% interest in the project, that would mean an NPV of the project of say $1Billion
Of course if they can acquire a larger stake say 40% or something then you've really got an interesting stock!
STILL 164M AT 2.79% Copper is amazing!
But I'm still not sure about a $100m mkt cap for a 8-9% interest in the project, that would mean an NPV of the project of say $1Billion
Of course if they can acquire a larger stake say 40% or something then you've really got an interesting stock!
STILL 164M AT 2.79% Copper is amazing!
Sean K
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Holy Toledo Batman, that drill result can't be right! 
What a shame they own so little of it.
What a shame they own so little of it.they currently have 8.75% of this project but have first rights to increase it to a total of 35% (ie to own 100% of Vertex who has 35% of this project)
this will be a certainty
35% of a deposit which could be 5-6 bigger than CDU's rocklands
we are talking a share that's worth the equivalent of 1-2 Cdu's
this will be a certainty
35% of a deposit which could be 5-6 bigger than CDU's rocklands
we are talking a share that's worth the equivalent of 1-2 Cdu's
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Last edited by Joe Blow : Today at 12:43 PM. Reason: ramp removedimajica said:
