WAF valuation, page-64

Excellent post Eshmun and you have earned the right to say whatever you want here given your track record over many years and your willingness to share your deep knowledge in the mining industry with us all.

It’s hard to argue with what you have said. I do sense there was considerable pressure on Mr Hyde to make the deal happen. Maybe they were worried about the sovereign risks or the Financial Markets which had already begun to correct. Maybe their patience ran out and they just decided to get this thing moving ASAP. Nevertheless, I think they were trying their very best to prove up the value of this deposit prior to financing.

Not sure exactly what went down and maybe we are being protected from the finer points but I imagine the Bachelor scenario may have turned into a date with the ugly sisters.

Looking forward, risk/reward has obviously been impacted but we’re no dead duck by any means.