worst case"Worst case scenario it seems would be 2 million ounces"
I have a hard time buying that. Worst case is that the resource frigging DOUBLES?
I'd say worst case is that the total resource ups from 1 million to 1.3-1.4 million, with a few hundred thousand of the existing inferred upgrading to measured or indicated.
Under that scenario I would expect worst case for the stock is that it would drop to the 1.30-1.40 level. Or it might still pretty much hold the level it's at now even with that worst case resource.
Whatever the resource winds up showing, it seems like the next question after that in my view is going to be: Since they didn't drill that deep, since they mainly wanted to delineate the shallow stuff that's the most economical to mine, how much sweet stuff is down there below where they have drilled so far.
And then the follow up question to that is going to be, do they need to spend another couple years drilling for that sweet stuff in order to get an attractive offer on Clearwater or is someone going to make a good enough offer based on what can be gleaned from the drilling already done. I would expect the latter since the corporate outlook clearly is that Clearwater has reached the point where it's time to sell it.