Tiny Obscure Illiquid Asset Based DEEP VALUE
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Bear Creek Mining Corp. (BCEKF): is a Canadian silver and gold junior miner. They expanded exploration in Peru.
Currently the stock trades for $1.87.The margin of safety is supported by a strong financial position with a book value of 1.44.The 1.44 book value breaks down per share as follows,cash of .63,receivables of .06, net PPE of .86 to give us total assets per share of 1.47. Total liabilities are .033 giving us a book value of 1.44 per share.
The stock is down 46% over the prior 52 weeks. Market cap is 179.81M with an enterprise value of 141.85M.
Posted on Seeking Alpha Pro,July 2013
Bear Creek Mining Has Enormous Upside Potential
“Bear
Creek Mining is a silver exploration and development company with properties
located in Peru. Currently the company has a market capitalization of roughly
$150 million.
the high amount of resources on the company’s properties, particularly on its
Santa Ana and its Corani properties, this is an incredibly low valuation. If the company’s cash ($63 million as of
the end of March) is backed out, then investors are currently valuing the
silver on these two properties at less than $0.25 per ounce.The
reason for this is that there is a high risk that the…”
Scorpio Mining Corp. (SMNPF) : is a silver producer operating in Mexico with significant base metal by-product credits.
Financially strong with a large margin of safety that like most miners have been impacted by lower Sliver and metal prices.
Current price is .21 with a .72 per share book value. The book value is comprised of per share value of cash at .13, Receivables .03, Net PPE .48 to give us total assets of .75, total liabilities of .027 to give us a book value of .72
52 week change is -73%.
development of agricultural and industrial potash, and magnesium products. It
focuses on developing and extracting a carnallite-sylvite mineral deposit. The
company owns a 100% interest in subsurface Permit KP 360A comprising 68,301
acres; and subsurface mineral lease KLSA-010 consisting of 16,825 acres located
near Wynyard, Saskatchewan. Karnalyte Resources Inc. was incorporated in 2007
and is headquartered in Okotoks, Canada.”Yahoo
0.35
stake in Canada’s Karnalyte (KRLTF)”. The price for that stake was 45 million or 8.15 per share. Press Release
Exeter Resource Corp (XRA):
A few quotes from the article
Purchased a small positions in PCCLF,KRLTF,XRA as illiquid hence speculative
Source: http://shadowstock.blogspot.com/2013/11/tiny-obscure-illiquid-asset-based-deep.html
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