What you are paying for in the IPO is a company that can potentially do something with these exploration assets. They have a plan, but it's a highly speculative endeavour, and people that subscribe to the IPO are making a bet that this company can extract that value - and hopefully more.
In my experience, exploration land is most often paid for in script because of the speculative nature of the high-risk game. Is it worth 10 or 20 or 5? well, it's not worth much until you've got a buyer for it, and that will take work.
Sorry, that's just the way I see it - I think if you asked iTech for the cash, they would not be prepared to pay anywhere near $10m.
Best of luck.
AXE Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
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