What ?
So Skeena thinks that 1/2% of the project's production is worth $17.5 million.
Simple arithmetic therefore leads you to the conclusion that 1 % might be worth $35 million.
So let's take a wild guess and assume 10 % might be worth $350 million. Are we following this so far?
Soooooooooooo, 100% would be $3.5 BILLION. Yes???
Meanwhile, in the market place today, the remaining 99.5% of the economic interest in the project is available at a market cap of 70 million shares X $7 Cdn (very approximately) or $490 million.
Sooooo, each 1/2% economic interest is being valued by the market at $490/198 = $2.47 million.
What? Why are we paying $17.5 million for something the market says is worth one-seventh (1/7) that amount?????
Somebody quickly please explain? Did Walter Coles suddenly get seized by a brain fart/aneurism?
Am I missing something here?