RE:If Newmont makes an offer on Questex will you take $1 or $3.I believe when we think about QEX’s ‘worth/value’ it’s important we keep in mind that we only have about 25M shares outstanding – not like many other companies with between 80-200M shares.
For example: let’s say Castle is now worth about $100M. I know we haven’t made a discovery yet, but GTT has and it is worth $456M. That would mean Castle, by itself, is worth $4 per QEX share – with no consideration for KSP, Sofia, North ROK, ROK Coyote… + a lot of other high end potential targets/properties.
Therefore, even though $4 is a nice profit over today’s $0.60, I wouldn’t be in favour of selling all of QEX even for that price – maybe, just maybe, I might be willing to sell Castle (as it is today) to Newmont for $3 or $4 ($75-$100M). But frankly, I’d probably be inclined to take a little more risk and JV it with Newmont until the Castle resource is defined, or if need be go it alone with the drilling and resource definition – more risk, but potential for a far greater return.
I believe HB is absolutely right when he says Newmont didn’t spend $450+M to not build a mine – and they will want lots of reserves, and Castle is the best fit.
In any case, I sure wouldn’t be interested in selling all of QEX for $3/share.
I guess I’ve always looked at QEX as ‘high risk – high reward’ – speculative – but we know we have some excellent pieces of land and we are now just about to start exploring/assessing them properly – I’ll take my chances – that’s why I came here.
Having said that, I sure don’t know who keeps wanting to sell at $0.60~ (it would be an interesting story) / but then I look and see that basically insiders just keep buying it on the market – so I think I’ll ride with them!
TB, QEX’s President, promised it would be a ‘wild ride’ – and the ride is just starting!
IMHO DYODD