RE:RE:RE:RE:What are the chances...It certainly was not intended to be a valuation.
Clearly the cost of mining the stuff needs to be considered, and its location as well as its purity and alternate supply competition etc.
The number simply makes a comparison between the in the ground value of the estimated reserves of silicon dioxide to that of the gold on the Beauce which is around 25,000 oz (but may be as much as 6 times this because of the nugget effect).
I have no idea what the value of the material is to FerroAtlantica, just that the going price is US $1.45 per pound at the purity level we have.
If its only worth 1% of that to them its $58 million or about $1 per share of UBR, this is not a prediction, just a way of scaling the numbers.