shares outstanding (mark. cap) = around 12 million

minerals in the ground (thus far): "estimates" range from below 250 million to over a billion.

we do not know for certain .... yet :)

and, it is unclear what methods are used by these estimators and if they account for ownership agreements with KWG, FWR and UC.

BUT IT IS CLEAR: SPQ's ownership percentage in their real-estate is undervalued.

reletively speaking: if one considers other ROF companies (which i beleive are all undervalued) and their present shareprice, i "estimate" SPQ should be around 10 cents.

how's that ?

cheers ...danny