if they were not interested they would already have let us know early on.
I used to think so as well - but CCY - they didn't completely walk...but they worked something else out. It's not exactly what anyone there was thinking.
So my prediction remains the same 100% buyout at over $4/sh
I'm just curious as to how you get there. Given 422 fully diluted (call it 425 with the recent PP when it closes) $4 a share represents $1.7B for just us. Now it's too simplistic to just say we own 25%, and it's too simple to to use NPV - but even our most optimistic valuations in the BFS are 2.6B (ROV @5%) for 100%. Ya ya, we have a lot of other stuff that's outside the BFS, undrilled waste and lands, potential to expand etc. But to get the overall value to $4+ for us, we have to have the total thing at around 6.8B (25% for us) - let's even say 6B because 25% as a calculation is too simplistic...I'm going to say the undrilled waste doesn't double our NPV. Our potential will likely be optioned or JV'd - not entirely bought out until the risk is gone - especially not sold for 100's of millions. Even 5% ROV is a a bit optimistic to use as a valuation tool. I just can't get to $4 anymore with the new BFS numbers. I'm hoping you can show me how you got there - as I would love $4, but I'm seeing just a backin more and more likely everyday opposed to a buyout - let alone a buyout of this scale.
Sorry to be negative - perhaps I just need a reminder.
