RE:RE:RE:RE:Time to buy back inI think the best pre-production valuation I've seen was from Agentis Capital which indicated a NAV of $2.21 per share at present based on the FS study assuming gold at $1,400 per Oz. The range went up to $4.25 per share assuming $1,960 per Oz. Our peer group trades generally at 0.9x NAV, so that's basically +/- $2.00 CDN per share floor valuation and again that's at the very low end of gold price range. They made some adjustments to the FS to get there and also valued the residual Oz's and acreage but all of their adjustments were straight forward and made sense and were things Ascot was already working on (infill drilling to add to the FS, shallow angle mining, etc.)
Obviously we're not at that valuation right now which is frustrating ut hopefully the next 2 - 3 months bring more great drilling results, a financing announcement, and the mines act amendment submission.