Eastmain Wins on Fury Launch

Fury (FURY) launched today. It is down on the day, currently $2.00 per share on the NYSE. Canada is closed today. All values are USD.

If you bought Eastmain shares, you made money on the trade. Eastmain shares were trading at 20 cents on Friday and that translates into 23 cents based on the exchange rate.

Auryn valued shares higher though. They believed each share of Eastmain was worth about .165 shares of pre-spinout Auryn. At $2.45 on Friday, that translates to 40 cents per share. Translated back into Fury, that comes to $3.40 per share. Several possibilities here including Auryn was very overvalued, the market values Auryn's other assets more highly and Fury is accurately valued today, or Fury is dirt cheap.