The three and six month financial statements and MD&A for Corona Gold -- dated Aug. 8, 2012 -- are available on SEDAR and make for some interesting reading. I've summarized highlights and added my own per share calculations.

Shares Outstanding As of June 30, 2012:

# of shares outstanding = 21,451,701
# of options outstanding = 2,450,000 -- granted @
.70 (expiry June 29, 2017)

Valuation As of June 30, 2012:

Total long-term investments = $9.9-million (
.46/share;
.41/share fully diluted*)
Total cash = $16.8-million (
.78/share;
.70/share fully diluted*)
Total current liabilities = $816K (Note: not including indicated admin budget for remainder of 2012 of $200K)
Total long-term investments + cash - current liabilities = ~$25.9-million ($1.21/share; $1.08/share fully diluted*). * not taking into consideration any $ from exercised options

Investment Share Holdings / # of Shares / $ Value As of June 30, 2012:

Treasury Metals / 4,573,133 / $3,201,193
Sabina Gold & Silver / 1,574,804 / $3,118,112
Ryan Gold / 6,600,000 / $2,442,000
Harte Gold / 2,441,138 / $585,873
Odyssey Resources / 2,000,000 / $200,000
African Minerals / 28,111 / $143,650
Macdonald Mines / 2,500,000 / $237,500
Ryan Gold Warrants / 800,000 / $21,600
African Minerals Warrants / 125,000 / $377,125

If you did this investment holdings valuation today (Aug. 9th, 2012), you'd see an overall increase of about $1-M thanks to Sabina Gold & Silver's price run-up. That's worth another 4 cents/share to CRG.

My Comments

Don't forget that CRG's intends to purchase back up to 1.2-million of its own shares was approved by the TSX. According to the Canadian Insider web site, there haven't been any puchases yet. Even so, CRG has had a slow steady price appeciation in the past month. I see no reason why this can't continue another 10-20 cents or perhaps even more from the last traded price of
.76. Best of all, unlike 99% of juniors, management appear to be shareholder-friendly. They take virtually no salary and priced their recent
.70 options a decent amount BELOW where it was trading on that date.