Well pnjker: We are on opposite sidesI would like TMAC to remain independent until "they" have a better idea of exactly what it is that they have in the ground up there. Heck, not long ago, they announced favorable high-grade drilling results at Doris. Yep, there is even more "stuff" to the north than anticipated. Madrid needs more drilling. Boston has been barely touched and Elu completely untouched. From a company standpoint, if they sold prior to knowing what it is they are selling, it would be a mistake. Sure, a buyer could say " Ill give you $175 for each ounce in reserves, $75 for each ounce in resources and, and, and because we are such nice folks......we'll throw in another $10M or so.....how's that sound"? My response: If you start walking now, you may reach AEM's mine before the bears wake up from hibernation. Nope, I do not want a quick buck. Mines like this do not come around every day, week, month, years or decades. Capital costs on a going forward basis are minimal. The heavy lifting is done. Drill, dig, process and return the excess cash to the shareholders. Wait, ummmm that's me. There is no rush. Future gold prices are anticipated to be considerably more northward. Just take a look at the state of the world as we speak. How many mines are going to be nationalized in developing countries? This mine is in a location where few care to tread, in a reasonably stable country, for now. Nope pnjker, neither of us can predict the future nor can we shape it. I vow to resist all takeover attempts with all the power and might of my meager holdings. Yep, tongue inserted securely in cheek. We are but passengers here. Enjoy the ride........As for a value, perhaps the past prices are an indication of the perceived value of the company. Do however keep in mind that additional "stuff" has been discovered since then. As usual, just my $0.02. Sherm