RE:ThoughtsAll in my humble opinion:
Why would you peg a buyout at 140 million for resource development and ignore the very resource in the ground ounces that caused the 140 million to be spent for development in the first place ???
From previous posts ... that may or may not be of interest depending upon one's agenda.
A few reminders for reference:
References more than 130 million invested in the NICO project
https://www.fortuneminerals.com/assets/nico/nico-resources-reserves/default.aspx
References 3.9 million gold equivalent ounces with base case for NICO. Is Sue Diane included ?
Are the current drilling results included in that number ? (i.e. hypothetically, the number should increase with any future drilling ?).
https://www.fortuneminerals.com/news/press-releases/press-release-details/2012/Fortune-Minerals-announces-updated-mineral-reserves-and-positive-FEED-study-results-confirming-NICO-economics1130060/default.aspx
References how to value a junior minor's gold in ground per their opinion:
https://munknee.com/how-to-value-a-junior-miners-gold-in-the-ground/
References gold equivalent ounces:
https://www.fool.com/investing/2018/05/21/what-is-a-gold-equivalent-ounce-geo.aspx
3.9 Million gold equivalent ounces x Resource ounces valued in ground / total number of shares = ?
3.9 Million gold equivalent ounces x U.S. per ounce x 1.25 exchange rate x 7% return / total number of shares = ?
3.9 Million gold equivalent ounces x U.S. per ounce x 1.25 exchange rate x 14% return / total number of shares = ?
This doesn't account for Sue Diane, or the increase in more reserves from drilling ?
Good luck to all longs,
The penny flippers and bashers/shorters are circling whilst we wait ...