RE:RE:RE:RE:RE:woke up last nite...and started crunching some numbers.. miktone wrote: Hey Tom, I'm interested what you think of the company's prospects moving forward. I know at one time you were a long here, don't you think that buying here is good risk rewards wise.I get all your criticisms and agree with a good many of them, but I don't see ounces in a prime jurisdiction as far along as we are at this price and see this as an eventual take out at multiples of the current market, I'm long and still holding.
Lots of ounces, but the grade is low. The part of the deposit that will be used for the rolling start (if it ever happens) might be the only part of the open pit deposit that is financially viable to mine. If the deposit is so good, why hasn't a major snapped it up? An offer for $100mil is more than 5 times higher than the current market cap. My guess is that the majors know that the deposit is not worth $100mil at current gold prices.
I might look at the old PFS or PEA that was done if I can be bothered. Figures of interest are initial capex and ROI.