Monday, August 24, 2009
Strathmore raises cash
More importantly, this gives them plenty of liquidity and takes away that downside risk. This is a big deal and they should trade around a dollar soon.
The company owns about 150 millions lbs total. So they have about 130 million lbs left. Valued at the same price, that is $195 million. Add in the $30 million in cash and that is $225 million of value or $3.13/share.
Miller is looking into whether there are regulatory roadblocks.
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