I like the basic calculations Chappy in regards to in situ - I'm working off something similar and come out to $3 as a "realistic" baseline valution - hoping for more but definitely not counting on it. Other variables that might adjust the buyout prices on somewhat comparable projects are CAPEX and OPEX, with CAPEX being of more immediate importance for CUU in my opinion.

A slight bump up in the CUU CAPEX, should hopefully be offset by quicker payback from better grades in the Paramount. Lots of "x" factors in terms of extra value-adds ... the biggest imo, would be if they hit some good grades in one or more of the targets. Then the speculative angle gets ramped up significantly.