RE: RE: RE: Re: NewsThat is correct, since VIO owns:
21.25 mm shs of Aurvista (roughly 50%)
the 10 kms of Casa Berardi strike,
the other projects,
almost $2 mm in cash plus $1.5 mm in cash due from Aurvista soon and another $1.4 mm in cash coming from warrants within 18 mnths.
I assume Aurvista will eventually acquire the additional strike length from VIO.
I understand that Aurvista plans to update the resource estimate this Spring with results from the current drill program. I assume they will base the new estimate on a lower cut-off grade reflecting higher gold prices. If so, I think it reasonable to anticipate 2.5 to 3 mm oz of Au which should be enough to move towards completion of a PEA or scoping study.
The Aurvista folks are not interested in a small operation and they have thought this through (and Au has gone up since they acquired the first 50%). The underground mine is worth $50 to $70 mm at current range of gold prices. But, the bulk mine will be worth several hundred mm$ . . . maybe billions, but its early days.