RE:RE:RE:RE:RE:NewsI think you're being conservative, Gross. Surely some level of discount is appropriate and 70% of NPV might be fair at this stage.
If dividing by the fully diluted # of shares, we need to add cash that would come in from exercising those options and warrants (the warrants alone are priced at $4.10 and that is about $35 million). With options, that adds to at least a $0.50 per share boost. Then add the surplus cash currently on hand which is close to another $0.50 per share based on the most recent financials.
So maybe $6.50 rather than $5.50 using your 70%. Then one could or should also add something for what has been discovered outside of the area covered by the PEA. What that translates to, I do not know.
I don't disagree about it being under valued.