RE:RE:RE:RE:RE:DisasterGeez --- even Sooner thinks $3-$4 USD with Rio down 50% is "fair"....
Didn't Newmont pay $361M for GT Gold asset ($316M usd + shares they arleady owned valued GT at $361M usd)....
they have about 1/2 metal as Casino ...and i don't think grades are that much different although i haven't checked on that.
I did note they paid $17M cad for a 10% stake orginially.
so follow closely, even with simple logic --- $361M / [ $17M/0.1 ] = 212% (to acquire all shares from original investment. Yes...very simple....of which we can apply similar to Rio/WRN.
We had Rio at $25M for 8%
Taking that logic with RIo /WRN = $25M/0.08 = $312M cad X 212% (premium noted above) = $662M cad = $490M usd / 161M = $3 usd.
Even assuming we have 2 X the resource === $361M usd X 2 = $4.5 usd.
I think the key difference is when Newmont made the offer for GT Gold their MC was within 30-40% of the above...our MC is NOT!