CWRN has an inventory worth scores of millions but a market value of only 2.6 million due to every possible manipulation known to man
the 200,000 tons of waste byproduct reported as of June 2012 is alone worth ca 40 million as follows:
125,000 tons of fert (more now) at ca 250/ton (see bingos 9-8-12 post) is 31,250,000 and now w additional produced after June 12 would be millions more
75000 tons of sinter fines at 85% of reg iron so 85% by 132 is 112.25/ton by 75000 tons as of june 2012 (more now) is 8.4 million so had waste byproducts worth at sale prices 39.67 million
as per original ratios it would take 2.5 MILLION tons of inventory to create 200,000 tons by product-ratios have obviously changed but grajekk and I had estimated 500-800k or more tons total inventory,being conservative as to previous ratios etc
so if only 300,000 tons reg inventory at 130/ton (I figure premium ore cancels out any discount-ore is ore ) thats an addtional 39,000,000-could bizarre circumstances have produced less than 300k tons reg inventory -possibly -
we hopefully will soon see inventory w financials, prospectus and sec reg statement,which the PR indicated we would have by now-because we should have that info at least 2 weeks before the record date-those who hold stock on record date have shares automatically exchanged for KMG stock at a later settlement date-
standard practice indicates a forthcoming PR will give us all this info-the date of record etc
equipment is also worth several times the market cap -see Kubis equipment post included in my sticky-so w other things the co is probably worth -w sale price of inventory over 85 million--
thats sale price -inventory goes on books at cost of production-and cost of pro is probably less than 12/ton-the ca median for juniors as of an article 2 years ago-I've posted the juniors cost chart many times-juniors have much less overhead than big boys-
and less transportation costs etc =the Chinese Wuhan steelmaker company was going to build a railroad and buy 1000's of railcars for 2.5 billion dollars just to transport iron ore from North Labrador Canada to port, as Grajekk 1st posted from an article a long time ago
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