RE:RE:RE:RE:If Newmont makes an offer on Questex will you take $1 or $3.HB – I couldn’t agree more with your comment “…Seriously, this situation is unique with the GT buyout, castle on trend with tatogga….”
My earlier post was aimed at trying to hi-lite the importance of our small share float, when thinking about value per share, as well as the potential value of our other excellent properties.
Castle has always been important to us, but especially since GTT discovered Saddle South & North – it is a large part of how QEX was created, the new CEO was appointed and most of the board created, when he moved into our company and brought the Moat claim with him. But last week, when Newmont bought GTT, it just skyrocketed Castle into orbit. Now it will create a serious opportunity(s) far faster than any of us were expecting.
As I’ve watched and researched various other companies exploring and/or operating in the GT, I’ve come to realize that if you get a good discovery, it seems it will probably add somewhere between a minimum of $250M, up to a maximum of $600M or more, to your value – for 1 major discovery. Obviously those are huge numbers – especially if, like QEX, you only have 25M shares – the added value per share is almost mindboggling, anywhere from $10 to $24+ per share – and that is for ‘1 discovery’.
My other point is that QEX has a multitude of excellent targets, in a number of prolific areas of the GT – to say nothing of the Toodoggone and other regions in BC – and now we have the right people in charge to explore/assess/discover them properly. I realize it is all speculation but, based on new expertise and their pretty damn good research, there could be a number of discoveries just in KSP, or a number in Sofia, let alone the one we’ve already started at Mabon in North ROC...
So as much as I too want us to achieve a good, quick, profit – and as much as GTT has suddenly made our thoughts about Castle take off like a rocket – we don’t have to be rocket scientists to realize that QEX has the potential of having a number of rockets in its sample bag – so I believe we don’t want to be too quick to give the whole bag to Newmont.
It boils down to the old saying about the birds – “1 in the hand is worth 2 in the bush” – but what if there are 4 in the bush, or 6, or ..… – and of course we’ll never know if we don’t go into the bush.
I have no problem selling Castle, for the right amount; that’s a good idea – but unless the price is astronomical, I think we are better off if we don’t sell the whole sample bag.
IMHO DYODD