Here is an interesting question, SolGold only own 85% of the project, the remaining 15% is owned by Cornerstone Capital Resources Inc. (CGP.V - link)
They also trade on the Pink Sheets - OTC:CTNFX (link)
They also trade on the Pink Sheets - OTC:CTNFX (link)
Let us compare their Market Caps (dated 10th Oct 2016)
- SolGold = £194M pounds (CND$315M - using a 1.63:1 ratio)
- Cornerstone = CND$34.2M.
So Cornerstone is valued at just 11% of SolGold, but they own 15% of Cascabel as well as additional projects in Ecuador and a large chunk of desert in Chile. This suggests that the enterprise of their shares should be ~CND$0.18/share (a 50% premium on today's price) just for Cascabel and they have the potential value for their projects.
This suggests that Cornerstone could be a potential rear entry into Cascabel or maybe they will be a hemorrhoid and SolGold will be looking to buy them out (especially at these prices) so that they can consolidate ownership over this very interesting project?
UPDATE - damn my laziness, if only I had posted this yesterday, I could have called myself a geni-arse.
UPDATE 2: Exupery left a comment that a company called DGR Global own 17% of Solgold, they are listed on the ASX (symbol DGR). They have a market cap of ~US$30.5M, so that is a big discount compared to SolGold suggesting a 60% upside potential.
UPDATE - damn my laziness, if only I had posted this yesterday, I could have called myself a geni-arse.
UPDATE 2: Exupery left a comment that a company called DGR Global own 17% of Solgold, they are listed on the ASX (symbol DGR). They have a market cap of ~US$30.5M, so that is a big discount compared to SolGold suggesting a 60% upside potential.
Try Australia listed DGR Global. They own 17% of Solgold, run by the same chap.
ReplyDeleteSolgold priced at pretty much half price buying them.
And they have a bunch of other stuff as well.
does the cornerstone capital resources trade in us market??
ReplyDeleteAce, I've followed your blog links several times to see your "profiles" on mining companies and all I've ever found are copy and pasted NRs and photos from the company sites. Is that all there is?
ReplyDelete