RE: RE: RE: 5 or 6 million ouncesI don't know what EAS is worth or--more specifically--what Miwah is worth... The simple answer is that it's worth what someone's willing to pay for it.
Take a read through some of the posts in recent months here (particularly those by sunshine20 and others), pertaining to what other deposits/companies were purchased for (Martabe, Pierina, etc.) It's not an easy exercise, because every deposit differs in size, metallurgy, mining method, location, depth, etc. The price of gold has a huge impact, of course, as do the needs of majors to acquire big-time assets to replace diminishing reserves.
All of these things argue in favor of Miwah getting taken out for a lot of money, IMO, and perhaps relatively quickly. The longer the drilling goes on and the deposit is proved up with 43-101 numbers, the less bargaining power the majors have. And the majors have shown that they are willing to jump on something relatively soon after discovery--before all the numbers are in.
So, I don't know what Miwah is worth. What is undoubtedtly true is that Miwah is a rare, large, stand-alone depost of exceptional gold potential. I'd be surprised if the majors aren't keeping a close eye on developments, or even visiting the property and conducting some assessments. EAS' management knows what they are doing and in the past has created terrific value for their shareholders (via their sale of a uranium property a couple years ago). I'm quite comfortable leaving the judgment of what the deposit is worth, up to them.