Pioneers share of the joint area Sumitoma have JVd into looks to...

Pioneers share of the joint area Sumitoma have JVd into looks to be roughly 50% of the land mass . Sumitoma have valued a 40% interest in its exploration potential of the entire at 30 mil US . If half of that sum ,15 mil US , is invested in the exploration potential of Pioneers Tenements . That would value the exploration potential of the remaining 60% interest at 22.5 mil US .
This remaining 60% interest is held 70/30 by Nova and Pioneer . That would put a free carried 6.75 mil US value on Pioneers interest in the exploration potential of the Kangan Tenements . Pioneers Market cap is 11.5 mil US .Sumitoma are the second largest bank in Japan with 1.9 trillion in assets .