On a straight pro rate basis we would be valued at $43.5 mill.Deduct a small amount because beneficiation or trspt would be more expensive for a 57.5% compared to a 58.3%
However the real hook that I missed on first read is that Flanagan offered a staggering $5.50 for all reserves upgraded above 24 mill.
Our open drilling potential is much higher ,I think and drilling should start shortly if it hasnt done so al,ready. So yes a speculative $50 mill should not get you in jail for misrepresentation
AJM Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
