Excellent post ilyas. I might go as far as to say, casino is a...

Excellent post ilyas. I might go as far as to say, casino is a more even playing field (not that I condone it).

Here's my analysis: With the run on the gold price, the market has completely obliterated all value on Pacific mines. Total Liabilities has increased 3.5 fold to $400m. At 51c, and a M/Cap $250m the total Assets were valued at $650m, which is what it was before they bought Allied. Therefore, zero value on the new mines.

So, as an investor, if you think there is value to be had in the new mines, then current SBM price or at 50-60c range must be good value long term. Unless, you think they will go bankrupt.