Thats a good point 3H.
Also the transaction gives us a valuation of the resources:
32,250 ounces is worth $1 million - esentially an arms length transaction.
Hence 3.5 mill ounces, (the rest to date) is worth ~ 108 million.
Current cap of 125 million esentially values this company as a straight exploration resource.
We've been told however that we could be mining in 1 year by a group that has delivered in the past.
Anyway, they're only back of the envelope numbers but it all adds to the story that this one is a little too cheap at ~50c.
Thats a good point 3H.Also the transaction gives us a valuation...
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