Anyone here invested in FNC.V, another player with ownership in the McFaulds area?
Came across them when I was reading an interesting article on Noront from many years ago (http://www.kwgresources.com/_resources/Middelkoop-KWG_Chrome_Feb9-09.pdf)
I bought some today after realizing the following:
The current value of marketable securities is CAD 13.85M.
Deduct total liabilities (most of which is deferred taxes) of CAD 3.35M, leaving CAD 10.5M.
In addition, the company has other assets worth CAD 15.7M.
The market cap is CAD 9.75M, so less than the NET value of all the marketable securities + you get the other assets (mainly exploration assets) worth CAD 15.7M for free.
| |
|
|
CAD /Share |
Value |
| Argex Titanium Inc. |
1 110 000 |
common shares |
0,085 |
94 350 |
| Champion Iron Mines Ltd |
10 268 334 |
common shares |
1,13 |
11 603 217 |
| Iconic Minerals Ltd |
1 250 |
common shares |
0,085 |
106 |
| KWG Resources Inc |
13 942 000 |
common shares |
0,02 |
278 840 |
| RT Minerals Inc |
20 833 |
common shares |
0,12 |
2 500 |
| St-George Platinum and Base Metals Inc. |
1 173 076 |
common shares |
0,02 |
23 462 |
| HPQ Silicon Resources Inc |
5 525 000 |
common shares |
0,195 |
1 077 375 |
| HPQ Silicon Resources Inc |
8 000 000 |
warrants |
0,097 |
778 331 |
| Total Marketable securities: |
|
|
|
13 858 181 |
| Less Total liabilities |
|
|
|
-3 345 480 |
| Net value of marketable securities |
|
|
|
10 512 701 |
| Other assets |
|
|
|
15 697 616 |
| Total Net assets |
|
|
|
26 210 317 |
| |
|
|
|
|
| Market Cap |
|
|
|
9 753 787 |
