Target $47.50
Nickel meteor slams Sudbury the subsequent tectonics produces volcanic action flowing precious metals surrounding the massive impact for eons, Red Lake, Kirkland Lake, Schumacher, ValD'or, Noranda etc...
Goldcorp, I believe, mines the most profitable gold mine on the planet whose footwall system is at depths well below 10,000'. Queenston's similarly gold laden footwall find is at a bucket dipping depth of 3,900', almost arms length if you dig and stretch your arm out in comparison.
Comparing Queenston to Goldcorp given they both have footwall systems that will in the case of Queenston likely produce or in the instance of Goldcorp does produce 2 pounds gold per ton, follow my math...
G have 811M shares outstanding priced at $45ish today. G are 100 times more valuable than QMI based on QMI have 83M shares outstanding priced at $4.50. If QMI are on the same type of find, QMI can reasonably be comparably valued to G.
So, Hoss123, QMI is worth on the most recent quote $475 / share. G took 10 years to produce, so my price target is $47.50 for QMI with the share float of 90M.
So, AEM has a recent price rise. Money says to take QMI we need $X. Money runs AEM up and sells at $xx to then fund the purchase of QMI. AEM and their money are running up to fund QMI for the $47.50 take out?
Isn't speculation great!