A False ComparisonI see the pumpers on the Agora board are making another false comparison of SC to the Corvus Gold (KOR) buyout offer of 500M for their gold properties ( which works out to be approx. $100 US/oz for their in situ gold ounces ) By MoneyK's logic therefore SC should be bought out for approx. 3.75B since SC contains 30M oz. eq. Au !
I don't know whether to laugh or cry at the level of stupidity of MK's post. First of all, you are comparing two different assets. One asset contains a resource of 1.5 g/ton gold grade and the other ( SC ) contains a resource of .73 g/ton Au equivalent, less than half the grades of Corvus gold deposit. One is a high grade gold asset which does command a premium and the other (SC) is considered a low grade asset that does not.
Major's are willing to pay those premiums for high grade assets because they carry far less risk in developing and operating than lower grade assets especially in years where metal prices remain low for several years. Show me a low grade deposit like SC where any Major has paid over $100 per eq Au oz for any deposit averaging less than 1g/ton Au eq.? You won't find any as Major's are not that stupid!