17 cents and rising, page-5

Poor maths there, dude.

The long term value of the company is not how much it will cost to build the mine (including all the scoping and other prep work.) It's the amount of profit it will bring in, once all of the costs are accounted for. So I would argue that the company is worth more than 16 cents for every 10% stake it retains - in fact, the relationship is not linear, as they will almost certainly use some of the revenue payable to Peak (rather than the investor) to explore and develop other mine prospects (such as the gold tenements.)

Now, how much revenue and profit the mine will bring in ... that's the dollar (two dollar? Three?) per share question. :)