I wanted to get a handle on the Rick Rule BFS info and the Canplats Resources take over from 2009 and early 10.

The first purchase offer came in at a 41% premium with a Spin off NEW CO. offering current holders 90% of the stock. This rose from there to about 60% on its final sale.

My question to the group is we are after a price based on the NPV. I am having difficulty finding examples of take overs based on this valuation. Do they exist?

60% would indicate a valuation of 650 to 700 million at today's current value. This number grossly under values Shaft Creek assets IMHO.

Holding the line on the current share price is a concern, we know the resource is much larger than before. While Cape may have increased there seams to be no reasonable understanding as to why the price resists any upward movement.

If this is the industry standard premium how do we get there? I am hoping for 2B how do we get there? Will the share price begin to head north upon release of the BFS? I for one certainly hope so. A slow drift upwards after release approaching the prior high places an intial offer around 3.80 with an upside to 4.30 to 4.55 or 1.7 to 2B.