RE:RE:RE:RE:Acquisition of Argonaut Gold this morning! You're a long way off here.
(Proven resources x $150 (fire sale example)) / number of shares = buyout price per share
10m (we hope) x $150 (fire sale discount of 50%) = $1.5bn
divide by 267m shares outstanding
= $5.61 a share
To highlight that this is based on the fire sale 50% anticipated discount that has just been shown.
therefore I think $10 would be the much more realistic number for a potential buyout.
The fact remains Cynthia is not drilling enough. Brilliant that she can boast about cash in the bank but I see more value in drill results and more proof of resources. $9m is nothing if we are expecting a billion dollar buyout. Smoke and mirrors. We need more from Cynthia.