RE:HmmmmmThe valuation put on Teuton by Vector Vest would give its 20% stake in Treaty Creek a maximum of $12 million. In other words, it values Treaty Creek as a whole at $60 million. Since there is likely to be about 40 million oz. of AuEq after the last two years of drilling, that's about $1.50 per ounce. If Seabridge were valued at that level the stock price would be a fraction of what it is today. Bitcoin would be valued at about $3200 (with no tangible assets of course) at this valuation. It's a pretty extreme analysis. I don't buy it.