we now employ their top two men, an outstanding development for all concerned. Talent is everything. Few people in the world are self starters, sad but true. About Tosca's property. The market cap of the property is tiny: 3 million dollars or so. A 30% premium implies 4 million. I am against this. First, all of these explorer mirco caps are dying on the vine. No money is available from the banksters, and there is simply not enough private equity to fund these 1000 micro caps. 90% will be gone in 18 months. Aurcana is in the driver's seat in so many ways, just like the cash rich bigger guys. Fact is, in the Old Days a juggernaut like GE did not mind the hard times: they would crack open their warchest at the very bottom and steal cash starved companies blind. So Tosca's value continues to go down, not up, now that their top two guys have a full time job with us. I would offer like 100K to drill the property for the next 18 months or so, with an option to buy the company for like 2 million in a year, and 3 million in two years. No capital is wasted, and we know what we are getting. Tosca may well be in BK in a year without this sort of deal
Kevin, Tosca's market cap is only 1.5 million. And, they have around 200K in cash left.
I think that Aurcana can take over their neighbor for very little outlay right now, without hurting themselves whatsoever. They can take their time with the Tosca property, and have plenty of cash flow to do what it takes (especially now that Shafter is in CP).