RMS already has all the upside they need by holding 20% of SPR, lets look at what SPR have now.. 1 .SPR 4 billion Profit after tax for life of mine.
2 RMS have 20%, therefore if SPR share price reaches $5 from gold fever, RMS can dump them and make 1 billion and run.
3 RMS can turn 1 billion into 5 billion by lazy investing in the top 200 over a 15 year period. Why should we overpay for a nonperforming asset.
4 SPR way over valued. In ground valuation per ounce at $400 ounce, then SPR would be worth 1 billion, which is high for inferred resources. RMS offer would need to have some special conditions, more like a farm in agreement which SPR resources are valued as they become proven to a higher standard.
SPR Price at posting:
$1.60 Sentiment: None Disclosure: Not Held
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