RE:RE:End Of The MonthI'm trying to get a value attached to the property we're trying to buy, and for sure being the first in has given us a big advantage in the percentage of ownership. How the next tranche will go down, remains to be seen, and I certainly hope we can get to a majority position.
As a comparison back in 2015 a company by the name of Mercator Minerals owned a copper project in the same neighborhood called El Pilar. Smaller in size and grade, Mercator went chapter 11 and sold off El Pilar to Southern Copper in a fire sale for $100 million. Now, keep in mind back in '15 when that sale took place, copper was selling for a 25% discount to today's average price. So, with a better market, thicker grade, higher tonnage, and growing demand, what would this be worth? $200 million?? $300 million??? More???