My outcome I believe was same as yours. In ground values imply a full value of close to $2.00 per share for FDL. But given it is still to be proven up I believe it should trade at 10% of value or 20 cents now. 45 cents with a little more certainty and as you point out higher given infrastructure already in place.
$0.50 a given from here. Todays prices are a bargain :)
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