Putting a value on HBK.. I've posted on this previously, but doesn't hurt to repeat it
Using this document as a justification for a method of valuation:
https://www.cre.org/memberdata/pdfs/income_approach.pdf
Take the 43-101 estimate for the confirmed tonnage, the market price per ton of aggregate and length of mine operation etc
Anyone can then go to the several online DCF calculators, such as this one:
https://www.moneychimp.com/articles/valuation/dcf.htm
or this one
https://www.gurufocus.com/fair_value_dcf.php
And run the numbers across a range..
YMMV and will not reflect reality if buyout etc should actually occur. However, does give you a ball park range of estimates.
As usual, anyone knowing better please speak up..