NIA's latest stock suggestion Mines Management Inc. (MGN) is up 18% this morning to $2.13 and is looking very strong here. MGN's Montanore Project has a resource base of more than 230 million ounces of silver and nearly 2 billion pounds of copper. If you subtract MGN's cash position of $20.46 million from its $62.216 million market cap, you get an enterprise value for MGN of $40.756 million. If you divide that by 230 million ounces of silver, MGN is currently being valued at only $0.177 per ounce of its estimated silver resource base. To the best of our knowledge, this is the lowest valuation in the industry out of all silver exploration stocks!
NIA has been once again accumulating Ocean Power Technologies, Inc (OPTT) in recent weeks. OPTT originally ran from NIA's suggestion price on October 4th of $2.38 to a high on October 20th of $5.60 for a gain of 135% in only 12 trading days. OPTT has dipped from its high and is currently trading for $3.24, well below its net cash position of $42.6 million or $4.10 per share.
NIA currently owns 108,200 shares of OPTT at an average purchase price of $3.1079 per share. OPTT has $43.1 million in cash and $500,000 in debt for a net cash position of $42.6 million or $4.10 per share. OPTT is currently receiving no value at all for their 41 issued U.S. patents protecting its technology for harnessing power from the ocean's waves and delivering it to electricity grids around the world.
NIA recently visited OPTT's headquarters and was very impressed with management's vision for the company. Here is a picture of NIA's President in the back of OPTT's headquarters standing next to one of OPTT's PowerBuoys:
Disclaimer: NIA owns 108,200 shares of OPTT that it purchased at an average price of $3.1079 per share. NIA intends to sell its shares of OPTT in the future and can sell them at any time. NIA also reserves the right to accumulate additional shares of OPTT at any time.
NIA is not an investment advisor. This email is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This email is meant for informational and educational purposes only and does not provide investment advice. NIA's co-founders have previously disseminated information about OPTT in other media outlets.
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