10 million is extremely low ball. I like your extreme conservatism however. You have to take into account the 80 to 90 million spent on the infrastructure, and drilling data. As well we have to take into account the gold and silver in the ground that has been found so far. I make the argument that there is more to be found. The management would be stupid to sell for 10 million. Why would they when it can sell for 100 to 200 million? The only way anyone would sell for 10 million would be if the company was distressed, but its not.
That's just my 5 cents.
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