RE:RE:Copper BelleOlympia2 wrote: thanks Doug for sharing your insight. I think the Cipher Research price of $ 31 per oz. could be questioned and I remember having seen your last calculations also based on $ 40 per oz. for being under development. It also is not taking into consideration, that we have a carried interest here with probably no dillution in 2019, the 4th year in a row.
Nevertheless, based on 2.4 mio oz at TC, 40 mio shares, plus $ 890.000 for TUD shares, plus C$ 2.873.500 cash not yet received for TUO and giving zero value for 2% nsr at TC and 20 other properties with 100% ownership, our lowest share price for the moment should be C$ .45
Thanks Olympia - yes, I had used the $40 Cipher Research number assuming that development of KSM would cause the Treaty Creek gold to be worth more. However, this time around to be more cautious I used their $31 per oz. number. The Cipher Research data covers about 240 company transactions involving gold discoveries over about 20 years, but I'm open to reviewing other sources if you know of any. Also, per Seabridge data, the amount of money needed to find new ounces of gold via exploration is moving higher so eventually there should be upward pressure on the value of Copper Belle and KSM gold.
I think there is also $400,000 due from Pretium for the final payment on their option from Teuton by June, 2019. I'm not anticipating any dilution next year unless a really good reason comes up.
I continue to believe that the value of Treaty Creek as a tunnel path for KSM is 1% of total KSM project cost which would be about $.25 per share for Teuton. So I agree with your evaluation on what the share price should be and I'm willing to wait for the events that cause the market to get more interested in Teuton stock.