RE: Let's do some mathI like your thinking, that's basically the calculation I did at the end of my "dd". Once some up to date info on the mine comes out (aka info on assays that date after like 1927) I think were in the money.
You are ignoring a fairly significant point though: the mill at engineer can only handle 25 tons a day. That that 160 M and discount it over several decades and it come out a little smaller....