Clearly we were all hoping for more than 1.1Moz. I do like the average grade that is 40% higher (at the same cut-off as Ventana). This deposit is economical with or without Eike. Neinstein wins the first ounce of gold produced out of Cali for his guess:).
Ya gotta keep coming back to BMO.....that loan was based on a slam dunk opportunity, which means something is likely sold. It's possible that it's the silver portions of Cali, but it makes sense that it's a given $$$ amount per ounce for what is in the 43-101. One way or another the strips need to be resolved and that's where my rationale is coming from.
As was mentioned, a reasonable estimate would be $200/43-101 ounce (~half of the VEN valuation), which equals approximately $1.40 when you take into consideration the repayment of the loan, and fully diluted. The next task would be to determine what Vetas is worth, along with Victorio.
The RJ report has nailed this all along so it's tough to go against them.
The chain of events tomorrow will liekly tell us what's ahead. One way or another we likely get the reason for the loan before the AGM.....and is why the news release came out now.