RE: Question? Hey Dan,
I think they leave the decision strictly to the numbers. If they can't get at least $200/ounce (roughly $2.15/share based on my estimate of 1.5mm inferred ounces) then no deal. They own 80% of the California property, but also own a nice little piece of land in Eike's claim, and of course gold is 20% higher than when Ventana did their deal. Ventana received over $400/ inferred ounce in their 43-101. Ventana did have quite a bit more land, but California alone is at least worth $200/inferred ounce.
If they can't get that then I would go the other way. Look to prove up Vetas and see if Ross Beaty would like it to go with his CBJ property. Play the millionaire (Beaty) against billionaire (Batista). Of course Victorio also has some worth here with the soar in Tungsten prices. Their coal property has very little value right now IMHO.
Galway has the deck in their hands with over $20mm in the treasury. Time is approaching to start using that deck.
Raymond James continues to buy here and they are the smart money in my humble opinion.