Hey you two!  I can't quite believe that you haven't put this together in your minds yet.  Banyan is a separate company (that Victoria just happens to already have quite a large stake in).  It has paid for a series of extremely systemic drilling all by itself (via the monies from its stakeholders).  Under Tara's leadership, she has an extraordinary team that has delivered (even so far) an impressive resource (at a discovery cost of $2. an ounce!).  To say that she has likely proven out a 2 million oz - and gunning on 3  now...on a shoestring - is amazing.  And BYN did all this at a time where Victoria, for a lot of reasons, was hamstrung by debt (and ongoing politics) and had NO exploration budget of its own.  But Tara kept going...it is what she does. 

Like Victoria, these are shallow holes (open-pittable)...very similar to Eagle.  Given the added costs, no real attempt yet to go deeper...but as it lies, grades as good as or better than Eagle...and it hasn't cost Victoria a dime.

So, now we are further along...Victoria has virtually vanquished it's debt...and a possibility of a buy-out is in the air.  Finally, now is the time to up the ante in terms of Victoria's resource and longevity!  Deep holes have been put down at Eagle...which might double it's mine life...and a rash of exploratory drilling is currently underway at Raven (interestingly just over the fence from BYN).  IF Raven proves out to be part of the same "sea" of gold as their neighbours...and proves out what might start to look like a couple million ozs...then an adjacent property with 2-3 million is going to start looking pretty tasty...don't you think?  

And don't forget, VIT already 7+% of BYN !  What part of this picture are you not seeing?

In a buy-out...the first thing that any company would do is look at the neighbours...and that kind of a resource is not to be sneezed at.  Without a buy-out, VIT would be insane not to consider a take-over, given that, immediately the combined ozs would justify a stand-alone mine.

And what would it cost?  Well, you guys are the "experts"...give me a price per share for BYN...is it $2...is it $3...more?  Don't forget there is that little company at the other side of the property which could prevent a stink-bid.  So...what do you think a resource of (combined) 5+million ozs would be worth?  To acquire BYN with a proven resource this way would be infinitely cheaper than VIT having to do it from scratch (What the hell do you think the majors learned over the last couple of decades!).

Again, I don't understand your resistance to a brilliant chess-move.  VIT got to bend the rules at a time where it couldn't appear to be gambling...and it has paid off.  AND either way, will continue to pay off.

Sorry to go on for this long...I am long BYN - but even longer VIT.
EL D


OCB1234 wrote:
kegman wrote:  No more Banyan. 

 


Like you, I still don't get the infatuation with Banyan. While the risk-reward looks pretty good, the upside potential is unknown, especially considering the amount of dilution and time that will be required to advance AurMac.