$50 - $100 USD per ounce is about the going rate for a takeover in South America.
So, you're looking at more like $150-$300 mil USD for 3 million ounces at Dynasty. I'd bank on the lower end of this scale as it's a lower grade resource.
While this is still a decent upside on current 65 mil USD valuation, I think you'll be lucky if you can even get $1.50 per share and that assumes no further dilution (which is inevitable), and god only knows what sweetheart deals and options for execs will have to be paid out (can't keep track anymore).
Getting to 5 mil ounces changes it but wait and see.
TTM Price at posting:
50.0¢ Sentiment: None Disclosure: Not Held
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