RE:RE:RE:RE:RE:Valuation of infrastructure on site?awacs1,
Not sure I agree with your case that management won't bring this to production. Building a $30 million 16 by 17 foot production ramp into the heart of your flagship asset is not something you do if you're trying to attract a buyer. It's something you do to show a potential buyer that you mean business. A lot of ore can be hauled out of that ramp to get production going. Management is keeping its option open on any takeover bid. If the bid is too low in their eyes, they can assure shareholders that production via the ramp is just around the corner at greater value than the bid.
Management could have used the $30 million to drill all the possible targets up to indicated category. 4 to 8 million ounces of indicated ore with all permits in hand would be a tempting takeout target but would still be a risk for the asking price without a feasiability study. The bulk sample from Triangle will firm up the eventual FS.
I'm sure that management would welcome a takeout bid at the right price and who wouldn't. But only at the right price.