MEU will pay more than $3m if forced to imo as getting 250,000 ounces and a very large tenement holding around Challenger Mine is of huge value to them.
How much has it cost TYX to get to this stage and how much has MEU spent so far to get their Aurora Tank project to it's current stage.
$3m is about 40% of the true value of 250koz and then there is the 20 tenement package of largely unexplored ground.
Jumbuck doubles MEU for $3m. They currently have a mc of $40m. MEU will pay more if forced to imo.
Ann: Termination of agreement for sale of Jumbuck Gold Project, page-26
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