RE:RE:RE:RE:RE:For What It's WorthAs far as I understand it, Barrick has 1 year to exercise the option after NI43-101 (effective sometime Nov 2019). That means they can currently back-in.
If they back in, we only have 49% of the NPV5 + their payment. So your 240M market cap is actually 120M + Payment.
That means right now They would pay 10M + ~8M reclamation + 3x 15M = 63M. So the total value of Skeena would be $183M + 18M cash = 201M. 174M shares outstanding so that gives me:
$1.15/share.
I know there's a few more terms to the Barrick deal so it's probably a bit more than 63M, but not by a whole lot. My point is from before still stands. Barrick's back-in is stopping the price from going higher. There's no point talking about it like Barrick is just going to wait around until we've spent a bunch of money if they can back in right now.