https://copperfoxmetals.com/site/assets/files/3918/2019-07-18-cp-cuu.pdf
Notice how the company provides this number:
Pre-tax Net Asset Value of approximately $C423 million ($0.92/share) @ 8% discount rate.
Now this is not the first time they quoted this value...would it not be misleading to present this value to shareholders if management was not trying to get our market CAP to this level?
It is encouraging to present this information to the public and interested investors. The "92 cent" value is based on an outdated FS and Van Dyke economics that will be easily enhanced with further studies!
Majors can start their bids at 800 million.