Clearing up new 11c GCY value?

how to value new 11c GCY?

11c share (115m MC) is worth less than the old 20c share (90m MC)

they have 50m cash now but 25m fees etc.

115m MC with 25m cash to explore.

buying at 11c now is similar to buying the old 20c share (*bleeding stopped but 1.8% royalty cost introduced)

old shareholders cut in half,

new financier got rich and

new buyers …can buy in at the same effective MC as it was prior to shutdown.

I want to clear up for those new to GC 11c is not half price to what 20c was, it’s effectively 25m more expensive to what the 20c was with 25m extra exploration money.

So new GCY= 115m MC for significant new gold find, new 2.5M T Mill and 25m to expand the 1yr old find. Good value but not twice as good as 20c …literally the same as it was at 20c.

Thoughts?