RE:RE:While you all chatter in theoryAh yes, Sooner, you do raise a point about something only being worth what people are willing to pay for it. Of course, that logic can be take too literally.......allow me to proffer a bit of a zen brain teaser for you:
If I offer a one ounce gold eagle (current market value of $2,100) to a room full of people will the final offer received be what the coin is worth? Let's say for sake of argument the most anyone has in available $$ to spend on a coin is $1,200 and that is the best offer I receive. Is the $2,100 coin suddenly worth only $1,200? What if through some form of collusion nobody will pay more than $1,500 for the coin, is it suddenly only worth that amount?
No, worth often times does not match what one is able to achieve in the moment in terms of price. Sorta like one who knows the price of everything but the value of nothing.
We all need to understand that we won't get FULL value or NPV for Casino. Of course a suitor cannot pay full price for an asset and hope to make a profit margin. So, I disagree that what one offers is what Casino is "worth". The crux of the matter is how much below true worth we are willing to go to strike a deal.
I've always felt that 50% of a legitimate NPV figure is a fair value for a suitor to pay. The longer we wait, the higher the NPV and hence buyout price goes. The 3 year average of the gold price is already higher than the gold price used in the headline NPV figure and it will only continue to increase upwards.
As time passes and the Casino Road is built, the project is full permitted and shovel ready in an environment where the gold price has exploded nobody will be talking about $3 a share, unless out of nostaliga....(I used to be able to buy WRN for $3 a share). (Yeah, grandpa and you used to be able to buy a candy bar for a quarter!!!) :-)