RE: California Valuation Hey NaturalCurrency,
A good point of discussion.
It all depends on the grade, cut-off, and how many ounces. I am holding my estimate of 1.75mm ounces and having the same grade and cut-off as Ventana (grade = 3.9 , cut-off = 2.0). As I keep pointing out, do remember that Ventana's 3.5 million ounces were inferred. I suspect we get a blend of indicated and inferred in our 43-101.
If they can achieve what is above, then $200/ounce shouldn't be a stretch, especially when you throw in the strips that Eike needs for his mine to be built in the most efficient way.
I would then throw in a valuation of around $100 per ounce at Vetas. The reason why the valuation is cut in half is because it's 8km away, and separate infrastructure would need to be built besides the Ventana deposit.
Keep in mind that all of this if dependent on us only having Eike as a bidder. All bets are off if we get a white knight!