RE:Junior attempts a build - Argonaut Gold edition - A RevisitI don't think any serious investor here believes that WRN will attempt to build the mine themselves. The primary function of WRN is to source gold, delineate the resource, pursue (and or complete) permitting and get the project shovel-ready or a good piece down that path.
What WRN is selling to a potential suitor are the rights to the NPV of the project. One can argue endlessly at how to appraise the value of each dollar of NPV (we finance professionals will say a dollar is worth a dollar by strict definition), but from where I sit, I continue to believe that 50% of a fairly calculated NPV is a resonable give & take settlement for both parties involved in any future negotiations.
BTW, we are currently sitting at a gold price that is 45% HIGHER than a few years ago when the "base case" price of gold was utilized in the PEA. If Paul will kindly allow me to beat the dead horse once again........he said it best when he said the best price RIO (or any other suitor) would ever get on an acquisition of Casino was at today's (a few years ago) prices.