RE:LME Valuation its all well and good but your math is having a buyer pay retail for gold
they will pay MAYBE $350USD per oz so...
2.5m at $350/oz = $875m = $3.20 ish USD per share
12.5m at $350/oz = $4.37 Billion =$16 usd per share (this will never happen)
id be ecstatic with anything above $3 USD per share within the next few months
they really do need to do SOMETHING different...sh**t or get off the pot, so to say. Either raise capital and do proper drilling or sell it for a reasonable value based on CURRENT market conditions and where they have gotten to. You simply cannot sit there with a palpable arrogance expecting maximum value when you continue to drill very small amounts year on year.... expecting all cash and $10+ a share cad is probably not even remotely likely given what USCG had in their LME document. If she wants to leave a legacy she should be sure not to make it a really bad one where she killed her own company. A small few with deep pockets are essentially keeping this company alive and they will, sooner or later, be tapped out.