People here still think that the share price has something to do with corporate valuation...
This year, no estimate, just fact, 155,000 ounces at $600/oz above cost is $93,000,000
(you are free to whine and cry here about estimates) Measured+Indicated is about 6.5M ounces (4.0M without Gurupi).
Market cap at $2.50/share is $211,000,000
Yeah .... that makes sense ... to this Yahoo board that is....
If you haven't figured out yet, the share price is being manipulated by the potential buyers (or a third party that intends to reap a huge profit through this manipulation). No secret there - probably isn't even illegal.
The SEC caught someone in the act of buying 2.9M shares immediately before the Shandong buyout "leak" (inside information). The SEC was "unable" to determine exactly who the culprits were - Ummmmm.
Even the rats are smart enough to get off a sinking ship. We may be the people who remain on the ship to look for women & children before the last life boat is lowered into the water. I said that I'd never ride another one down that was intended to be a trade and not an investment. It looks like we're on the road to pink sheets. Saddle up or put on your life jackets.
Its either someone manipulating stock down or a couple of hedge funds who have very large positions liquidating to meet redemptions. If their funds are closing they don't care about value or price , just have to sell. But that doesnt explain lack of serious buyer if this is as cheap as we all think, why wouldn't a strategig buyer be loading up at these levels? Or position being shopped around through institutions? Confused!!!!
You know my view, Gary German messed up this whole process.
"For a number of months Jaguar's share price has been disconnected from the inherent value of the Company's unique asset portfolio," said Gary German, Chairman of the Board. "The Special Committee has been formed to explore alternatives. Our Board will not support a transaction that does not deliver adequate value to our shareholders."
December 15, 2011 Stock I believe was 70% higher
At least, with the stock trading at 2.40. My belief is that if they don't sell the company, major shareholders will throw German out with the BOD.