What you left out most is 52M ounce of contained Ag refer to 10...

What you left out most is
52M ounce of contained Ag refer to 10 Aug annual report for detail plus ~100K ton contained lead.
The Ag reserve would give 52M*16.5US$=858M US$; and Ag price could go up I think 20US$ would be a sensible value for the calculation which gives the Ag reserve a valuation ~1 Billion US$

More importantly just this year we hit
we hit something like previously in hole
AKDD181 1.0 m @ 0.08% Pb/Zn, 143 g/tAg & 1065 g/t Au

Very promising in both Ag and gold.

And please remember ALL these contained metals including Ag, Zn, lead, gold only for one project of ARD: Kempfield.

ARD has other promising projects as well such as WESTWYALONG close to a gold mine sold for in July 2015 US$550million;
SUNNY CORNER project has reserve of:

1.5 Mt @ 3.7% Zn, 2.1% Pb,0.39% Cu, 24 g/t Ag and 0.17 g/t Au at a 2.5% combined base metals cutoff grade, for containedmetal as:
§ 55,000 tonnes of zinc;
§ 32,000 tonnes of lead;
§ 5,800 tonnes of copper; and
§ 1.2 million ounces of silver.
MT. DUDLEY project

theInferred category Mineral Resource is 0.89 Mt @ 1.0 g/tfor 28,000 ounces of gold at a cutoff grade of 0.5 g/t gold (JORC Code 2004edition). This resource is open to the North. Whilst theresource is small, it serves as an indication of the potential for additional feedstock within a 10 km radius of the Kempfield Polymetallic Project.

ARD at the moment is way undervalued with so many promising project with proved huge reserve all ready there. I believe that is why some players want in in an urgency.
IMHO​