RE:Reply to Korpfu Thanks,
I have used Santa Barbara to crunch some basic numbers. I agree the biggest resource they have is where the development will take place (if ever). Again, I have assumed the indicated and inferred as proven. The depth is concerning. Sinking shaft is never cheap. There are too many unknowns to do any real number crunching.
You are right, there are many resources spread out over a large area. Thus, mutiple developments would need to occur, therefore, most not feasible. The capital required would be astronomical.
Some producing and profitable majors in my part of the world are having major difficulties obtaining capital for new developments. I think it would take years for any development to occur here (if it were to happen) and for me this is a short term play. I rarely invest in juniors anymore. Stock prices for these, in my opinion, are more based on emotions and hope than actual fundamentals.
I have any idea of my exit price now if the stock were ever to rise to that level.