Yeah, I saw that it was just for the early years, but what's the point in making a calculation for just the early years, instead of over a full minelife? And yes, average grade will probably be higher eventually in later MREs, but by how much?
And the extra 70 million is just a guesttimate. Adina still needs a lot of drlling, PEAs, PFS, environmental studies permits etc. before they can start building a mine. All of that still needs to be done before you start building and isn't free.
And then we haven't even mentioned that if a TO takes place, the acquirer will also take that take over price into account.
No offense, I think you're leaving a lot of things out.
But let's agree on the "garbage in = garbage out." statement.
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