Just my 2 cents on the recent options for Salient: I'm aware of Salient and they do good enough work, but 50m options for three people's time for some consulting is an eyewatering amount
Yes, the option price is at 3.5c, and using Hartley's estimate 4.0c at farm in (though that number now may be stale), they take on some risk in zero to small profits. But, preaching to the converted here, if we have a successful drilling campaign it could get to +40c/sh. If we expect to be bought out it could be in 24 months or less. At 40c, that is $20m (before tax) between the three of them.
Millions each for a few months work
Options for work is a great incentive, but the quantum has me feeling PCL has been taken for a ride. That is what consultants do, and it is a shame that is the truth of the world, but more so it doesn't fill me confidence for the negotiating power of PCL. Iian, if you do read the forums, please play a little harder. We're in position, don't go giving it up. I hope they are the absolute best and are worth every bit when it comes their time to shine.
PCL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
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