2.1p cash value alone!30 Oct 2015 13:30
£5m potential offer coming our way
$6.3m cash (£4m) as at 30 June 2015 and ONLY 183m shares in issue.
£4m/183m = 2.1p based on cash value alone
$13m existing other assets
The Potential Buyers have the option to purchase the Akdjol-Tokhtazan Project at any time on or before the 31 December 2015 for a consideration of US$5.0 million. The previous non-refundable deposits of US$400,000 received by the Company during 2014, will be applied against the consideration in the event of any sale.
As at June 30, 2015 the Company had cash and cash equivalents of $6.3 million and estimates to have sufficient working capital to fund it exploration and administration obligations for the next 12 months.
Oh and July 10, 2015 - Metal Tiger PLC ("Metal Tiger"), was interested in 5,500,000 of the common shares of no par value of the Company representing a 3.01% interest in OSU.
Results expected mid November 2015
Currently well undervalued