I agree with your initial numbers however not the final outcome.
Announcement says "in excess of 1.9 Mill pounds" keyword is "in excess"
The other critical piece in the announcement is the wording " plus substantial exploration potential on the Thompson Project"
The deal here is based on the GDN asset, as it will have and does have far greater value than White Canyon bringing to the table, however this is the trade off for bringing a fleet of experienced people and equipment to have this new U venture actually producing revenue in the next 6-8 months.
I have assumed here from past history on the GDN tenanment that the value with White Canyon and GDN tenanments to have potential value for its 30% to be in excess of 2 Million pounds.
The potential value in this U stock will be realised later this year coupled with the fact that it will be producing, which is more than most other U stock can say.
GDN Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
