RE:RE:Stinking horse bid accepted Lots of room to manuever, SH sets the bottom, gives some protection to SB in case they are outbid as they have to guy it regardless if not.
Will cost a few million to outbid / payoff the SH, but compared to all the other expenses, plus the lawyers, pocket change.
NPV of underground is many bags over the SH bid, but for me I discount the UG to near zero, real value is in the open pit asset plus the land package.
Noted in going through documents that they were paying assayers $40k per month before chapter 11.
Would be nice to see those results.
KW