Extorre was bought for their main deposit which roughly works out to 170 dollars per ounce of gold (equiv). That is not a bad price to pay when gold is above 1,500/oz.
Of course if Seafield were given such a valuation we would be at 340 million dollar market cap!
However, it is important to realize that the infill program must continue so that SFF gets a better $/oz value. And like our deposit Extorre started finding a higher grade zone within the boundaries of the deposit. If we can continue to define such a zone the mining scenario becomes much more feasible and profitable.
So far we hit 10m of nearly 12g/t and 26m of 3.8 g/t Au which I am hoping is contained within a relatively continuous domain within the 200m to 300m depth levels. As one mines deeper it gets more expensive so if the grade goes up at that level it would really add to the attractiveness of the deposit.