JAG has roughly $2.94 in debt per share. So if a company were to buy JAG, they would have to pay about $3/share just to pay off the debt. That's not even counting the cost of actually acquiring the mines, equipment, etc.
Now, do any of you really think that's gonna happen? Really?
I think your thinking a little backwards. First you have to determine what the value of the company is, if it didn't have the debit. Then add the debt. If you start out with the idea that the company is worth zero or 40 cents, then I don't ever want you buying anything for me.
It wasn't too long ago that this company traded in the $4's with no problem.
But then again.....maybe the people at that time were really stupid Aholes.