Does the valuation seem right?

Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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From_Sudbury

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Does the valuation seem right?

posted on Nov 14, 2022 03:45PM

I believe Fancamp continues to hold 3.1 million shares of CIA; now valued at about $16.5 million. Furthermore, with respect to these shares, they should be recieving about $600,000 per year in dividend payments; so there's that.

Then they have this $34 million convertable note payable with regards to the ring of fire property to KWG, along with royalties and warrants. This appears to be subsequent to the latest financials, so not reflected as an asset and it seems this is being valued at nil by the market at this time.

Then, they also hold shares of other companies; which also appear to have little to no value:
15% of NeoTerrex shares
1.5 million shares of Vision Lithium Inc
About 2.3 million shares of ScoZinc (now EDM Resources)
Various other properties and patents (Magpie)