RE:Founder’s is still under the radar IMO..Agreed, NextLeg. I guess I haven’t harped on that particular topic (why one should keep buying) lately, but there *is still* fantastic opportunity even at these latest highs. A self-serving claim, to be sure, but that doesn’t mean it isn’t also readily defensible.
My takeout target of Cdn$11.25 is based on a set of input assumptions that, as a group, could easily be too conservative. I note especially my Cdn$75 per ounce purchase estimate. On reviewing my thinking, $75 may well be too low given South America’s relative (and improving?) risk profile compared to North America / Australia with their endless and increasingly onerous regulatory and environmental approval processes.
And I didn’t even really bother to try to estimate the value of the 1 million + ounces of tailings gold. Surely, those are in a separate category - worth 3-4x more than $75 per ounce since there is no serious excavation expense required. Or, to allow apples to apples comparisons, maybe consider them a regular underground target zone already completely proven up (no more drilling required), shown to contain 3-4 million ounces all by itself at an average depth of, say, 50 or 100 meters.